EX-12.1 2 a2014q1ex-121.htm EXHIBIT 12.1 EARNINGS TO FIXED CHARGES RATIO 2014 Q1 EX-12.1


Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 
Three months ended March 31,
 
2014
2013
 
$
$
Computation of earnings:
 
 
Income (loss) before income taxes
(23.9
)
1.0

Plus: fixed charges
13.4

10.8

Less: capitalized interest
(0.4
)
(0.3
)
Earnings
(10.9
)
11.5

Computation of fixed charges
 
 
Interest expense, net
12.5

10.1

Capitalized interest
0.4

0.3

Interest portion of operating lease expense
0.5

0.4

Fixed charges
13.4

10.8

Ratio of earnings to fixed charges   
(a)

1.1

 
 
 
(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 March 31,
 
2014
2013
 
$
$
Coverage deficiency-earnings to fixed charges
24.3

—