EX-12.1 8 d158227dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

     Transition
Period from
June 18 to
December 31
    Fiscal Years  
(Dollars in millions)    2015     2015      2014      2013      2012      2011  

Earnings (losses)

                

Pretax income (loss) related to continuing operations before adjustments for income or loss from equity investees

   $ (23.2   $ 248.0       $ 272.6       $ 607.7       $ 512.0       $ 450.6   

Fixed charges

     97.6        159.1         117.1         79.2         72.6         51.3   
  

 

 

   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Earnings available for fixed charges

   $ 74.4      $ 407.1       $ 389.7       $ 686.9       $ 584.6       $ 501.9   
  

 

 

   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Fixed charges

                

Interest expense

   $ 88.9      $ 146.0       $ 105.6       $ 70.0       $ 64.7       $ 44.3   

Rent interest factor

     8.7        13.1         11.5         9.2         7.9         7.0   
  

 

 

   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total fixed charges

   $ 97.6      $ 159.1       $ 117.1       $ 79.2       $ 72.6       $ 51.3   
  

 

 

   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Ratio of earnings to fixed charges

     (1     2.6x         3.3x         8.7x         8.1x         9.8x   
  

 

 

   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

 

(1) The ratio of earnings to fixed charges was less than one-to-one for the transition period from June 28, 2015 to December 31, 2015. The total fixed charges for that period were $97.6 million, and the total earnings were $74.4 million. The deficiency amount or the amount of fixed charges in excess of earnings for that period was $23.2 million.