EX-12.1 2 a2015q2ex-121.htm EXHIBIT 12.1 2015 Q2 EX-12.1


Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 
Three months ended June 30,
Six months ended June 30,
 
2015
2014
2015
2014
 
$
$
$
$
Computation of earnings:
 
 
 
 
Loss before income taxes
(33.4
)
(10.0
)
(35.6
)
(33.9
)
Plus: fixed charges
14.1

13.6

28.0

27.1

Less: capitalized interest
(0.2
)
(0.5
)
(0.4
)
(0.9
)
Earnings
(19.5
)
3.1

(8.0
)
(7.7
)
Computation of fixed charges
 
 




Interest expense, net
13.2

12.6

26.4

25.1

Capitalized interest
0.2

0.5

0.4

0.9

Interest portion of operating lease expense
0.7

0.5

1.2

1.1

Fixed charges
14.1

13.6

28.0

27.1

Ratio of earnings to fixed charges (a)
(1.4
)
0.2

(0.3
)
(0.3
)
(a) When the 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 June 30,
Six months ended June 30,
 
2015
2014
2015
2014
 
$
$
$
$
Coverage deficiency - earnings to fixed charges
33.6

10.5

36.0

34.8