EX-12 6 cyt-12312014xex12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES CYT-12.31.2014- Ex 12


 
 
 
Exhibit 12
 
 
 
 
 
 
 
 
 
 
 
Cytec Industries Inc.
 
 
 
 
Computation of Ratio of Earnings to Fixed Charges
 
 
 
 
(Dollar amounts in millions)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Years ended December 31,
 
 
 
2014
 
2013
 
2012
 
 
 
 
 
 
 
 
Earnings from continuing operations before income taxes,
 
 
 
 
 
 
equity in earnings of associated companies, minority interest
 
 
 
 
 
 
and cumulative effect of accounting change
$
190.2

 
$
244.4

 
$
103.4

Add:
 
 
 
 
 
 
 
Amortization of capitalized interest
1.3

 
—

 
2.7

 
Fixed charges
41.8

 
44.8

 
47.6

Less:
 
 
 
 
 
 
 
Capitalized interest
(24.2
)
 
(21.6
)
 
(11.2
)
 
 
 
 
 
 
 
 
Earnings as adjusted
$
209.1

 
$
267.6

 
$
142.5

 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
Interest on indebtedness including amortized premiums,
 
 
 
 
 
 
 
discount and deferred financing costs
$
39.0

 
$
41.2

 
$
45.1

 
Portion of rents representative of the interest factor
2.8

 
3.6

 
2.5

 
 
 
 
 
 
 
 
Fixed charges
$
41.8

 
$
44.8

 
$
47.6

 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
5.0

 
6.0

 
3.0