EX-12.1 2 a5816659ex12-1.txt EXHIBIT 12.1 Exhibit 12 ---------- Cytec Industries Inc. Computation of Ratio of Earnings to Fixed Charges (Dollar amounts in millions)
Three Months Ended Nine Months Ended September 30, September 30, ---------------------------------------------- 2008 2007 2008 2007 ---------- ---------- --------- ---------- Earnings from continuing operations before income taxes, equity in earnings of associated companies, minority interest and cumulative effect of accounting change $ 69.5 $ 70.6 $ 222.9 $ 217.7 Add: Distributed income of associated companies 0.0 0.0 2.4 3.3 Amortization of capitalized interest 0.8 0.4 1.9 1.6 Fixed charges 11.7 12.3 36.0 38.3 Less: Capitalized interest (0.8) (0.2) (1.9) (1.4) Minority interest (0.5) (0.3) (1.3) (0.5) ---------- ---------- --------- ---------- Earnings as adjusted $ 80.7 $ 82.8 $ 260.0 $ 259.0 Fixed charges: Interest on indebtedness including amortized premiums, discount and deferred financing costs (1) $ 10.2 $ 11.0 $ 31.5 $ 34.4 Portion of rents representative of the interest factor 1.5 1.3 4.5 3.9 ---------- ---------- --------- ---------- Fixed charges $ 11.7 $ 12.3 $ 36.0 $ 38.3 Ratio of earnings to fixed charges 6.9 6.7 7.2 6.8 (1) Interests on FIN 48 liabilities are not included as they are recognized as part of income tax expenses.