EX-12 6 ex-12q12014.htm EX-12 EX-12 Q1 2014
Exhibit 12

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
THE ANDERSONS, INC.

(in thousands, except for ratio)
     Three Months Ended March 31,
 
2014
 
2013
Computation of earnings
 
 
 
  Pretax income (a)
$
19,400

 
$
13,587

  Add:
 
 
 
    Interest expense on indebtedness
6,002

 
6,404

    Amortization of debt issue costs
565

 
407

    Interest portion of rent expense (b)
1,875

 
1,958

    Distributed income of equity investees
65,575

 
8,332

  Earnings
$
93,417

 
$
30,688

 
 
 
 
Computation of fixed charges
 
 
 
  Interest expense on indebtedness
$
6,002

 
$
6,404

  Amortization of debt issue costs
565

 
407

  Interest portion of rent expense (b)
1,875

 
1,958

  Fixed charges
$
8,442

 
$
8,769

 
 
 
 
Ratio of earnings to fixed charges
11.07
 
3.50


(a) Pretax income as presented is income from continuing operations before adjustment for income or loss from equity investees.
(b) The portion of rent expense on operating leases included in the calculation of the fixed charges ratio above is a reasonable approximation of the interest factor on those agreements.