EX-12.1 7 ex121-10k2015.htm EXHIBIT 12.1 Exhibit
Exhibit 12.1




Celanese Corporation and Subsidiaries
Statement of Computation of Ratio of Earnings to Fixed Charges
 
Year Ended December 31,
 
2015
 
2014
 
2013
 
2012
 
2011
 
(In $ millions, except ratios)
Earnings:
 
 
 
 
 
 
 
 
 
Pre-tax income from continuing operations before adjustment for noncontrolling interest
488

 
941

 
1,609

 
321

 
467

Subtract
 
 
 
 
 
 
 
 
 
Equity in net earnings of affiliates
(181
)
 
(246
)
 
(180
)
 
(242
)
 
(192
)
Add
 
 
 
 
 
 
 
 
 
Net (earnings) loss attributable to non-controlling interests
19

 
4

 
—

 
—

 
—

Income distributions from equity investments
176

 
148

 
141

 
262

 
205

Amortization of capitalized interest
5

 
3

 
3

 
2

 
2

Total fixed charges
185

 
217

 
234

 
247

 
283

Total earnings as defined before fixed charges
692

 
1,067

 
1,807

 
590

 
765

Fixed charges:
 
 
 
 
 
 
 
 
 
Interest expense
119

 
147

 
172

 
185

 
221

Capitalized interest
15

 
16

 
9

 
7

 
4

Estimated interest portion of rent expense
51

 
54

 
53

 
55

 
58

Cumulative preferred stock dividends
—

 
—

 
—

 
—

 
—

Guaranteed payment to minority shareholders
—

 
—

 
—

 
—

 
—

Total fixed charges
185

 
217

 
234

 
247

 
283

Ratio of earnings to fixed charges
3.7x
 
4.9x
 
7.7x
 
2.4x
 
2.7x