EX-12.1 3 dex121.htm STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Statement of Computation of Ratio of Earnings to Fixed Charges

Exhibit 12.1

ALBEMARLE CORPORATION

COMPUTATION OF EARNINGS TO FIXED CHARGES

(In Thousands Except for Ratios)

 

      Year Ended December 31,  
      2007     2006     2005     2004     2003  

Earnings:

          

Pre-tax income before adjustment for minority interests in income of consolidated subsidiaries or equity in net income or losses of unconsolidated investments

   $ 277,819     $ 133,386     $ 123,438     $ 72,538     $ 91,443  

Fixed Charges:

          

Interest expense (before capitalized interest)

     42,835       45,143       43,138       17,750       5,530  

Portion ( 1/3) of rents representing interest factor

     8,731       8,284       8,243       6,445       5,416  
                                        

Total fixed charges

     51,566       53,427       51,381       24,195       10,946  
                                        

Amortization of capitalized interest

     1,680       984       1,069       1,091       1,287  

Distributed income of unconsolidated investments

     11,769       13,536       16,189       4,000       3,493  

Interest capitalized

     (4,503 )     (1,179 )     (1,167 )     (400 )     (155 )

Minority interests in income of consolidated subsidiaries (net of tax)

     (17,632 )     (13,258 )     (7,469 )     (5,101 )     (2,564 )
                                        

Pre-tax income before adjustment for minority interests in income of consolidated subsidiaries or equity in net income or losses of unconsolidated investments plus fixed charges, amortization of capitalized interest, less interest capitalized and minority interests in income of consolidated subsidiaries that have not incurred fixed charges

   $ 320,699     $ 186,896     $ 183,441     $ 96,323     $ 104,450  
                                        

Ratio of earnings of fixed charges

     6.2x       3.5x       3.6x       4.0x       9.5x  
                                        

 

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