EX-12.1 5 d304866dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

Allegheny Technologies Incorporated

Computation of Ratio of Earnings to Fixed Charges

(Dollars in millions)

 

Septem Septem Septem Septem Septem
For the Years Ended December 31,    2011     2010     2009     2008     2007  

Income before income tax provision and cumulative effect of change in accounting principle

    $ 339.4     $ 125.7     $ 64.9     $ 867.7     $ 1,154.1  

(Income) loss recognized on less than fifty percent owned persons

      (7.4 )      (2.5 )      18.6       (4.6 )      (11.8 ) 

Noncontrolling interest in the income of subsidiary with fixed charges

      (8.8 )      (8.0 )      (6.3 )      (7.6 )      (6.8 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  
   $ 323.2     $ 115.2     $ 77.2     $ 855.5     $ 1,135.5  

Fixed Charges:

           

Interest expense

    $ 90.1     $ 60.7     $ 19.3     $ 12.4     $ 30.0  

Portion of rents deemed to be interest

      7.1       7.0       7.1       7.0       6.4  

Capitalized interest

      12.1       12.5       39.0       25.0       9.8  

Debt extinguishment costs

      —          —          9.2       —          —     

Amortization of debt expense

      3.6       3.1       2.1       0.8       0.8  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Fixed Charges excluding capitalized interest

      112.9       83.3       76.7       45.2       47.0  

Earnings adjustments:

           

Capitalized interest

      (12.1 )      (12.5 )      (39.0 )      (25.0 )      (9.8 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Earnings, as adjusted

    $ 424.0     $ 186.0     $ 114.9     $ 875.7     $ 1,172.7  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Ratio of earnings to fixed charges

      3.8       2.2       1.5       19.4       25.0