EX-12.1 4 d242332dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

DIEBOLD, INCORPORATED

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(dollars in millions)

 

     Six months
ended June 30,
    Year ended December 31,  
     2016     2015     2014      2013     2012      2011  

Earnings:

              

Total earnings from continuing operations

     (0.1     59.5        107.3         (190.2     68.7         159.0   

Income tax provision

     (15.7     (13.7     47.4         48.4        19.2         12.6   

Pre Tax Earnings

     (15.8     45.8        154.7         (141.8     87.9         171.7   

Fixed charges:

              

Interest charges

     35.8        32.5        31.4         29.2        30.3         34.5   

Interest factor of operating rents(1)

     12.1        22.6        24.1         25.1        24.9         24.6   

Total fixed charges

     47.9        55.1        55.5         54.3        55.2         59.1   

Earnings as adjusted

     32.1        100.9        210.2         (87.5     143.1         230.8   

Ratio of earnings to fixed charges

     0.67        1.83        3.79         —   (2)      2.59         3.91   

 

(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 for the year ended December 31, 2013 by approximately $229.3 million.