EX-12.1 2 l29833aexv12w1.htm EX-12.1 EX-12.1
 

Exhibit 12.1
Allegheny Technologies Incorporated
Computation of Ratio of Earnings to Fixed Charges
(dollars in millions)
                                         
    For the Years Ended
    12/31/2007   12/31/2006   12/31/2005   12/31/2004   12/31/2003
Income (loss) before income tax provision (benefit) and
cumulative effect of change in accounting principle
  $   1,147.3     $ 872.6     $ 311.1     $ 22.3     $ (279.7 )
(Income) loss recognized on less than fifty percent owned persons
    (11.8 )     (16.4 )     (12.7 )     (2.2 )     1.6  
Minority interest in the income of subsidiary with fixed charges
                             
 
                             
 
  $ 1,135.5     $ 856.2     $ 298.4     $ 20.1     $ (278.1 )
 
                             
Fixed Charges:
                                       
Interest expense
  $ 30.0     $ 37.7     $ 46.3     $ 38.0     $ 33.3  
Portion of rents deemed to be interest
    6.4       6.8       7.0       6.0       5.8  
Capitalized interest
    9.8       4.5       0.2       0.9       2.1  
Amortization of debt expense
    0.8       0.7       0.6       0.6       0.6  
 
                             
Fixed Charges excluding capitalized interest
  $ 47.0     $ 49.7     $ 54.1     $ 45.5     $ 41.8  
Earnings adjustments:
                                       
Capitalized interest
  $ (9.8 )   $ (4.5 )   $ (0.2 )   $ (0.9 )   $ (2.1 )
 
                             
Earnings, as adjusted
  $ 1,172.7     $ 901.4     $ 352.3     $ 64.7     $ (238.4 )
 
                             
Ratio of earnings to fixed charges
    25.0       18.1       6.5       1.4       (a)
 
                             
 
                                       
(a)  
For the year ended December 31, 2003, fixed charges exceeded earnings by approximately $280.2 million.