EX-12.1 6 a2236542zex-12_1.htm EX-12.1

Exhibit 12.1

 

 

 

Six months ended

 

Year ended December 31

 

Dollars in millions

 

June 30, 2018

 

2017

 

2016

 

2015

 

2014

 

2013

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

Income before income taxes

 

$

115

 

$

313

 

$

315

 

$

266

 

$

277

 

$

259

 

Fixed charges

 

13

 

6

 

6

 

2

 

6

 

5

 

Total earnings available for fixed charges

 

$

128

 

$

319

 

$

321

 

$

268

 

$

283

 

$

264

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense, including amortization of debt issuance costs and original issue discounts

 

$

10

 

$

0

 

$

1

 

$

1

 

$

1

 

$

1

 

Assumed interest element included in rental expense

 

3

 

6

 

5

 

1

 

5

 

4

 

Total fixed charges

 

$

13

 

$

6

 

$

6

 

$

2

 

$

6

 

$

5

 

Ratio of earnings to fixed charges

 

9.9

 

52.4

 

51.3

 

160.6

 

51.2

 

49.9

 

 

For purposes of calculating the ratios of earnings to fixed charges, earnings consist of income before income taxes, plus fixed charges. Fixed charges consist of interest expensed and an estimate of interest within rental expense.