EX-12 4 dfin-ex121_14.htm EX-12.1 dfin-ex121_14.htm

Exhibit 12.1

 

Donnelley Financial Solutions, Inc. and Subsidiaries

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(in millions, except ratios)

 

 

 

Years ended December 31,

 

 

 

2017

 

 

2016

 

 

2015

 

 

2014

 

 

2013

 

Earnings available for fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings from continuing operations before income taxes

 

$

56.2

 

 

$

94.3

 

 

$

171.7

 

 

$

92.4

 

 

$

158.9

 

Less: Equity (loss) income of minority-owned companies included in earnings from continuing operations before income taxes

 

 

—

 

 

 

—

 

 

 

(0.1

)

 

 

—

 

 

 

(0.2

)

Add: Fixed charges before capitalized interest

 

 

52.0

 

 

 

17.5

 

 

 

6.5

 

 

 

7.0

 

 

 

7.8

 

Add: Amortization of capitalized interest

 

 

0.3

 

 

 

0.6

 

 

 

—

 

 

 

—

 

 

 

—

 

Total earnings available for fixed charges

 

$

108.5

 

 

$

112.4

 

 

$

178.3

 

 

$

99.4

 

 

$

166.9

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

42.9

 

 

$

11.7

 

 

$

1.1

 

 

$

1.5

 

 

$

2.2

 

Interest portion of rental expense

 

 

9.1

 

 

 

5.8

 

 

 

5.4

 

 

 

5.5

 

 

 

5.6

 

Total fixed charges before capitalized interest

 

 

52.0

 

 

 

17.5

 

 

 

6.5

 

 

 

7.0

 

 

 

7.8

 

Capitalized interest

 

 

0.6

 

 

 

0.5

 

 

 

—

 

 

 

—

 

 

 

—

 

Total fixed charges

 

$

52.6

 

 

$

18.0

 

 

$

6.5

 

 

$

7.0

 

 

$

7.8

 

Ratio of earnings to fixed charges

 

 

2.06

 

 

 

6.24

 

 

 

27.43

 

 

 

14.20

 

 

 

21.40