EX-12.1 6 aghi-ex121_6.htm EX-12.1 EARNINGS TO FIXED CHARGES aghi-ex121_6.htm

Exhibit 12.1

STATEMENT RE:

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in millions)

(unaudited)

 

 

 

For the
Year Ended
Dec. 31, 2013

 

 

For the
Year Ended
Dec. 31, 2014

 

 

For the
Year Ended
Dec. 31, 2015

 

 

For the
Year Ended
Dec. 31, 2016

 

 

For the
Year Ended
Dec. 31, 2017

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

$

(121.5

)

 

$

(466.7

)

 

$

141.8

 

 

$

23.7

 

 

$

(42.3)

 

Add:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges

 

 

213.8

 

 

 

229.9

 

 

 

221.5

 

 

 

115.6

 

 

 

192.5

 

 

 

$

92.3

 

 

$

(236.8)

 

 

$

363.3

 

 

$

139.3

 

 

$

150.2

 

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expensed and capitalized (a)

 

$

206.5

 

 

$

223.7

 

 

$

215.6

 

 

$

109.9

 

 

$

186.7

 

Estimate of interest within rental expense (b)

 

 

7.3

 

 

 

6.2

 

 

 

5.9

 

 

 

5.7

 

 

 

5.8

 

Total Fixed Charges

 

$

213.8

 

 

$

229.9

 

 

$

221.5

 

 

$

115.6

 

 

$

192.5

 

Ratio of Earnings to Fixed Charges (c)

 

 

—

 

 

 

—

 

 

 

1.64

 

 

 

1.21

 

 

 

—

 

(a)

Includes amortization of debt discount

(b)

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

(c)

Our earnings were insufficient to cover fixed charges by $121.5 million, $466.7 million and $42.3 million for the years ended December 31, 2013, 2014 and 2017, respectively.