EX-12.1 3 exhibit121ratioofearningst.htm EXHIBIT 12.1 RATIO OF EARNINGS TO FIXED CHARGES Exhibit 12.1 Ratio of Earnings to Fixed Charges


Exhibit 12.1
USG Corporation
Ratio of Earnings to Fixed Charges
(dollars in millions)
 
June 30,
 
Year Ended December 31,
 
2013
 
2012
 
2011
 
2010
 
2009
 
2008
 
 
 
 
 
 
 
 
 
 
 
 
Earnings:
 
 
 
 
 
 
 
 
 
 
 
Pretax Income from Continuing Operations
$
26

 
$
(170
)
 
$
(410
)
 
$
(447
)
 
$
(340
)
 
$
(590
)
Add: Fixed Charges
101

 
206

 
211

 
183

 
167

 
105

Less: Interest Capitalized
(1
)
 

 

 

 
(3
)
 
(19
)
Total Earnings
$
126

 
$
36

 
$
(199
)
 
$
(264
)
 
$
(176
)
 
$
(504
)
 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
 
 
Interest Expensed and Capitalized
$
97

 
$
197

 
$
201

 
$
174

 
$
153

 
$
102

Amortized Premiums, Discounts and Capitalized Expenses Related to Indebtedness
4

 
9

 
10

 
9

 
14

 
3

Total Fixed Charges
$
101

 
$
206

 
$
211

 
$
183

 
$
167

 
$
105

 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
1.2x

 
0.2x (a)

 
- (b)

 
- (c)

 
- (d)

 
- (e)


________________________
(a)
As a result of a net loss, the amount of the coverage deficiency for the year ended December 31, 2012 was $170 million.
(b)
As a result of a net loss, the amount of the coverage deficiency for the year ended December 31, 2011 was $410 million.
(c)
As a result of a net loss, the amount of the coverage deficiency for the year ended December 31, 2010 was $447 million.
(d)
As a result of a net loss, the amount of the coverage deficiency for the year ended December 31, 2009 was $343 million.
(e)
As a result of a net loss, the amount of the coverage deficiency for the year ended December 31, 2008 was $609 million.