EX-12.1 2 a2013q3ex-121.htm EXHIBIT 12.1 RATIO OF EARNINGS TO FIXED CHARGES 2013 Q3 EX-12.1


Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
 
Three months ended September 30,
Nine Months Ended September 30,
 
2013
2012
2013
2012
 
$
$
$
$
Computation of earnings:
 
 
 
 
Income (loss) before income taxes
(32.1
)
5.7

(50.0
)
68.0

Plus: fixed charges
13.7

9.5

37.8

26.3

Less: capitalized interest
(0.4
)
(0.2
)
(1.2
)
(0.8
)
Earnings
(18.8
)
15.0

(13.4
)
93.5

Computation of fixed charges
 
 
 
 
Interest expense, net
12.6

8.9

34.9

24.2

Capitalized interest
0.4

0.2

1.2

0.8

Interest portion of operating lease expense
0.7

0.4

1.7

1.3

Fixed charges
13.7

9.5

37.8

26.3

Ratio of earnings to fixed charges
(a)

1.6

(a)

3.6

 
 
 
 
 
(a) Ratio is less than one; earnings are inadequate to cover fixed charges. The dollar amount of the coverage deficiency for the affected period is presented below.
 
Three months ended September 30,
Nine Months Ended September 30,
 
2013
2012
2013
2012
 
$
$
$
$
Coverage deficiency - earnings to fixed charges
32.5

—

51.2

—