EX-12.1 12 agi-ex121_20141231510.htm EX-12.1

Exhibit 12.1

STATEMENT RE:

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in millions)

(unaudited)

 

 

 

For the
Year Ended
Dec. 31, 2010

 

 

For the
Year Ended
Dec. 31, 2011

 

 

For the
Year Ended
Dec. 31, 2012

 

 

For the
Year Ended
Dec. 31, 2013

 

 

For the
Year Ended
Dec. 31, 2014

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pre-tax income from continuing operations before adjustment for noncontrolling interests in consolidated subsidiaries or income or loss from equity investees

 

$

(128.8

)

 

$

(103.6

)

 

$

(88.4

)

 

$

(75.6

)

 

$

(412.4

)

Add:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges

 

 

163.5

 

 

 

154.9

 

 

 

157.0

 

 

 

172.9

 

 

 

186.4

 

 

 

$

34.7

 

 

$

51.3

 

 

$

68.6

 

 

$

97.3

 

 

$

226.0

 

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expensed and capitalized

 

$

158.0

 

 

$

148.3

 

 

$

150.3

 

 

$

165.6

 

 

$

180.2

 

Estimate of interest within rental expense (a)

 

 

5.5

 

 

 

6.6

 

 

 

6.7

 

 

 

7.3

 

 

 

6.2

 

Total Fixed Charges

 

$

163.5

 

 

$

154.9

 

 

$

157.0

 

 

$

172.9

 

 

$

186.4

 

Ratio of Earnings to Fixed Charges (b)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

(a)

One third of net rent expense is deemed to be representative of interest

(b)

Our earnings were insufficient to cover fixed charges by $128.8 million, $103.6 million, $88.4 million, $75.6 million and $412.4 million for the years ended December 31, 2010, 2011, 2012, 2013 and 2014, respectively.