EX-12.1 6 dbd12312016ex-121.htm EX-12.1 Exhibit


Exhibit 12.1
DIEBOLD, INCORPORATED AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(dollars in millions)
 
 
Year ended December 31,
 
 
2016
 
2015
 
2014
 
2013
 
2012
Earnings:
 
 
 
 
 
 
 
 
 
 
Total earnings from continuing operations
 
$
(170.7
)
 
$
59.5

 
$
107.3

 
$
(190.2
)
 
$
68.7

Income tax provision
 
(67.6
)
 
(13.7
)
 
47.4

 
48.4

 
19.2

Pre tax earnings
 
(238.3
)
 
45.8

 
154.7

 
(141.8
)
 
87.9

Fixed charges:
 
 
 
 
 
 
 
 
 
 
Interest charges
 
101.4

 
32.5

 
31.4

 
29.2

 
30.3

Interest factor of operating rents(1)
 
28.1

 
22.6

 
24.1

 
25.1

 
24.9

Total fixed charges
 
129.5

 
55.1

 
55.5

 
54.3

 
55.2

Earnings as adjusted
 
$
(108.8
)
 
$
100.9

 
$
210.2

 
$
(87.5
)
 
$
143.1

Ratio of earnings to fixed charges(2)
 
—

 
1.83

 
3.79

 
—

 
2.59

(1) Interest portion of rental expense is estimated to equal 1/3 of such expense, which is considered a reasonable approximation of the interest factor.
(2) Earnings were inadequate to cover fixed charges by approximately $347.2 and $229.3 for the year ended December 31, 2016 and December 31, 2013, respectively.