EX-12.1 4 d367122dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

RATIO OF EARNINGS TO FIXED CHARGES CALCULATION

Our ratios of earnings to fixed charges for the years ended December 31, 2015 and 2016, using financial information prepared in accordance with IFRS, as issued by the IASB, were:

 

     For the Year Ended
December 31,		  
Period    2015      2016  
     (in millions of Ch$)  

Earnings:

      

Income before income taxes

      123,029        10,905  

Distributed earnings from associated companies

      —          —    

Fixed charges

      278,692        870,028  

Total earnings

      401,721        880,933  

Fixed charges

      

Interest expenses

      278,692        870,028  

Interest capitalized

      —          —    

Total fixed charges

      278,692        870,028  

Ratio of earnings to fixed charges

      1.44        1.01