EX-12.1 6 a201510kex-121.htm EXHIBIT 12.1 Exhibit


Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 
Year ended and as of December 31,
 
2015
2014
2013
2012
2011
 
$
$
$
$
$
Computation of earnings:
 
 
 
 
 
Income (loss) before income taxes
(307.1
)
(28.7
)
(77.8
)
74.6

186.3

Plus: fixed charges
55.4

54.0

50.2

35.0

23.5

Less: capitalized interest
(1.6
)
(2.3
)
(1.6
)
(1.1
)
0.9

Earnings
(253.3
)
23.0

(29.2
)
108.5

210.7

Computation of fixed charges
 
 
 
 
 
Interest expense, net
52.6

50.4

47.5

33.1

21.5

Capitalized interest
1.5

2.3

1.6

1.1

0.9

Interest portion of operating lease expense
1.3

1.3

1.1

0.8

1.1

Fixed charges
55.4

54.0

50.2

35.0

23.5

Ratio of earnings to fixed charges
(4.6
)
0.4

(0.6
)
3.1

9.0

(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.
 
Year ended and as of December 31,
 
2015
2014
2013
2012
2011
 
$
$
$
$
$
Coverage deficiency - earnings to fixed charges
(308.6
)
—

(79.4
)
—

—