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,  
     2009     2008     2007     2006     2005  

Earnings:

          

Pre-tax income before adjustment for net income attributable to noncontrolling interests or equity in net income or losses of unconsolidated investments

   $ 160,273      $ 183,343      $ 277,819      $ 133,386      $ 123,438   

Fixed Charges:

          

Interest expense (before capitalized interest)

     25,820        39,171        42,835        45,143        43,138   

Portion (1/3) of rents representing interest factor

     9,124        10,232        8,731        8,284        8,243   
                                        

Total fixed charges

     34,944        49,403        51,566        53,427        51,381   
                                        

Amortization of capitalized interest

     1,272        1,335        1,680        984        1,069   

Distributed income of unconsolidated investments

     18,045        13,135        11,769        13,536        16,189   

Interest capitalized

     (1,236     (996     (4,503     (1,179     (1,167

Net income attributable to noncontrolling interests (net of tax)

     (11,255     (18,806     (17,632     (13,258     (7,469
                                        

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

   $ 202,043      $ 227,414      $ 320,699      $ 186,896      $ 183,441   
                                        

Ratio of earnings to fixed charges

     5.8x        4.6x        6.2x        3.5x        3.6x   
                                        

 

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