EX-12.1 13 a13-20955_1ex12d1.htm EX-12.1

Exhibit 12.1

 

Nexeo Solutions Holdings, LLC and Subsidiaries

 

Computation of Ratios of Earnings to Fixed Charges

 

The following table sets forth our ratios of earnings to fixed charges for the periods presented ($ in thousands):

 

 

 

Successor

 

 

Predecessor

 

 

 

 

 

 

 

For the Period

 

 

 

 

 

 

 

 

 

 

 

 

 

 

from

 

 

 

 

 

 

 

 

 

 

 

 

 

 

November  4,

 

 

Six

 

 

 

 

 

 

 

 

 

 

 

2010

 

 

Months

 

 

 

 

 

 

 

 

 

 

 

(inception) to

 

 

Ended

 

Fiscal Year Ended

 

 

 

Fiscal Year Ended September 30,

 

September 30,

 

 

March 31,

 

September 30,

 

 

 

2013

 

2012(1)

 

2011(2)

 

 

2011

 

2010

 

2009

 

Income (loss) before income taxes

 

$

14,725

 

$

(1,344

)

$

(77,379

)

 

$

40,376

 

$

55,869

 

$

53,074

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Add:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges

 

59,260

 

46,892

 

25,555

 

 

525

 

892

 

1,067

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total adjusted earnings (loss)

 

$

73,985

 

$

45,548

 

$

(51,824

)

 

$

40,901

 

$

56,761

 

$

54,141

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

48,097

 

$

38,793

 

$

21,710

 

 

$

—

 

$

—

 

$

—

 

Amortized premiums, discounts and capitalized expenses related to debt

 

10,108

 

6,560

 

3,188

 

 

—

 

—

 

—

 

Estimated interest within rental expense

 

1,055

 

1,539

 

657

 

 

525

 

892

 

1,067

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total fixed charges

 

$

59,260

 

$

46,892

 

$

25,555

 

 

$

525

 

$

892

 

$

1,067

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

1.25

 

—

 

—

 

 

77.91

 

63.63

 

50.74

 

 

(1)                  For the fiscal year ended September 30, 2012, our earnings were insufficient to cover our fixed charges by $1.3 million.

(2)                  For the period from November 4, 2010 (inception) to September 30, 2011, our earnings were insufficient to cover our fixed charges by $77.4 million.