EX-12.1 5 omn-11302017ex121.htm EXHIBIT 12.1 Exhibit


Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions, except ratios)
 
 
 
Year Ended November 30,
 
 
2017
 
2016
 
2015
 
2014
 
2013
Pre-tax income (loss) from continuing operations
 
$
(4.1
)
 
$
9.9

 
$
(21.1
)
 
$
11.7

 
$
26.5

Adjustment for (income) loss from equity investees
 
—

 
—

 
—

 
—

 
—

Pre-tax income (loss) from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees
 
$
(4.1
)
 
$
9.9

 
$
(21.1
)
 
$
11.7

 
$
26.5

Distributed income equity investees
 
—

 
—

 
—

 
—

 
—

Less: Capitalized interest
 
—

 
—

 
—

 
—

 
—

Amortization of interest previously capitalized
 
—

 
—

 
—

 
—

 
—

Adjusted pre-tax income (loss) from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees
 
$
(4.1
)
 
$
9.9

 
$
(21.1
)
 
$
11.7

 
$
26.5

Fixed Charges:
 
 
 
 
 
 
 
 
 
 
Interest expense
 
$
21.5

 
$
24.7

 
$
28.3

 
$
32.9

 
$
29.6

Interest capitalized during the period
 
—

 
—

 
—

 
1.0

 
—

Amortization of debt issuance costs
 
1.5

 
4.7

 
2.8

 
3.3

 
2.3

Imputed interest portion of rent expense
 
1.6

 
1.6

 
1.7

 
2.3

 
2.2

Total Fixed Charges
 
$
24.6

 
$
31.0

 
$
32.8

 
$
39.5

 
$
34.1

Pre-tax income (loss) from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees plus fixed charges
 
$
20.5

 
$
40.9

 
$
11.7

 
$
51.2

 
$
60.6

Ratio of Earnings to Fixed Charges
 
.8

 
1.3

 
.4

 
1.3

 
1.8

 

a. For the year ended November 30, 2017, the ratio of earnings to fixed charges was less than 1.0. Our earnings were not sufficient to cover fixed charges requirements for the year ended November 30, 2017.