EX-12.1 10 a14-1130_1ex12d1.htm EX-12.1

Exhibit 12.1

 

ROCKWOOD HOLDINGS, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

 

 

Year Ended December 31,

 

($ in millions, except ratios)

 

2013

 

2012

 

2011

 

2010

 

2009

 

Determination of earnings:

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations before taxes

 

$

45.4

 

$

108.1

 

$

85.5

 

$

(1.6

)

$

(39.5

)

Add:

 

 

 

 

 

 

 

 

 

 

 

Interest expense, net (a)

 

82.3

 

64.5

 

83.1

 

135.2

 

152.4

 

Rent expense (b)

 

5.4

 

4.6

 

5.0

 

5.1

 

4.8

 

Total earnings as defined

 

$

133.1

 

$

177.2

 

$

173.6

 

$

138.7

 

$

117.7

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

Interest expense, net (a)

 

$

82.3

 

$

64.5

 

$

83.1

 

$

135.2

 

$

152.4

 

Rent expense (b)

 

5.4

 

4.6

 

5.0

 

5.1

 

4.8

 

Capitalized interest

 

3.0

 

2.3

 

1.7

 

—

 

—

 

Total fixed charges

 

$

90.7

 

$

71.4

 

$

89.8

 

$

140.3

 

$

157.2

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

1.47

 

2.48

 

1.93

 

—

(c)

—

(c)

 

(a)               Interest expense includes amortization of debt expenses.

 

(b)               Rent expense included in the computation consist of one-third of rental expense, which we believe to be a conservative estimate of an interest factor of our leases, which are not material.

 

(c)                Earnings were insufficient to cover fixed charges by $1.6 million and $39.5 million for the years ended December 31, 2010 and 2009, respectively.