EX-12 2 ex-12q22017.htm EXHIBIT 12 Exhibit


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

 
Six months ended June 30,
(in thousands, except for ratio)
2017
 
2016
Computation of earnings
 
 
 
  Pretax income (a)
$
(29,142
)
 
$
4,834

  Add:
 
 
 
    Interest expense on indebtedness
12,088

 
13,605

    Amortization of debt issue costs
1,080

 
548

    Interest portion of rent expense (b)
3,882

 
4,844

    Distributed income of equity investees
611

 
2,679

  Earnings
$
(11,481
)
 
$
26,510

 
 
 
 
Computation of fixed charges
 
 
 
    Interest expense on indebtedness
$
12,088

 
$
13,605

    Amortization of debt issue costs
1,080

 
548

    Interest portion of rent expense (b)
3,882

 
4,844

  Fixed charges
$
17,050

 
$
18,997

 
 
 
 
Ratio of earnings to fixed charges
(0.67
)
 
1.40


(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.