EX-12.1 2 a2214460zex-12_1.htm EX-12.1

Exhibit 12.1

 

ACCO Brands Corporation

Computation of Ratio of Earnings to Fixed Charges

(Unaudited)

 

 

For the three

 

 

 

 

 

 

 

 

 

 

 

 

months ended

 

For the year ended December 31,

 

 

March 31, 2013

 

2012

 

2011

 

2010

 

2009

 

2008

 

 

 

 

(in millions of dollars, except ratios)

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations before income taxes

$

(23.4

)

$

(4.4

)

$

42.9

 

$

38.5

 

$

7.2

 

$

(239.3

)

Add (deduct):

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges

17.4

 

96.1

 

83.9

 

85.4

 

74.5

 

70.8

 

Capitalized interest

(0.1

)

(0.2

)

(0.2

)

(0.2

)

—

 

(0.5

)

Equity in earnings of joint ventures

(1.3

)

(8.9

)

(8.5

)

(8.3

)

(4.4

)

(6.5

)

Distributed income of earnings of joint ventures

4.7

 

11.9

 

5.6

 

5.4

 

0.3

 

9.4

 

Total earnings (loss) available for fixed charges

$

(2.7

)

$

94.5

 

$

123.7

 

$

120.8

 

$

77.6

 

$

(166.1

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense and amortization of debt discount

15.6

 

$

89.2

 

$

77.2

 

$

78.2

 

$

67.1

 

$

63.7

 

Capitalized interest

0.1

 

0.2

 

0.2

 

0.2

 

—

 

0.5

 

Rental expense—interest component(a)

1.7

 

6.7

 

6.5

 

7.0

 

7.4

 

6.6

 

Total fixed charges

$

17.4

 

$

96.1

 

$

83.9

 

$

85.4

 

$

74.5

 

$

70.8

 

Ratio of earnings to fixed charges

—

 

—

 

1.5

 

1.4

 

1.0

 

—

 

Extent of deficiency

$

(20.1

)

$

(1.6

)

 

 

 

 

 

 

$

(236.9

)

 

(a)                       30% of rent expense is deemed to be representative of interest.