EX-12.1 4 c250-20150331xex121.htm EX-12.1 Exhibit 121

 

Exhibit 12.1

 

DPL Inc. and Subsidiaries

Statement Re: Calculation of Ratio of Earnings to Fixed Charges

 

 

 

Three

 

 

 

 

 

 

 

 

 

 

 

 

Months

 

Year

 

Year

 

Year

 

Year

 

Year

 

 

Ended

 

Ended

 

Ended

 

Ended

 

Ended

 

Ended

(in $ thousands, except ratios)

 

3/31/15

 

12/31/14

 

12/31/13

 

12/31/12

 

12/31/11

 

12/31/10

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

 

Total interest and Preferred Dividend

 

$
30,539 

$
126,575 

$
124,371 

$
122,865 

$
70,213 

$
70,581 

Add: Capitalized Interest

 
82 

 
373 

 
1,039 

 
1,904 

 
2,173 

 
1,784 

Less Intercompany Interest

 

-

 

                   -

 

                   -

 

                      -

 

                  -

 

                  -

Add: Interest Component of Rentals

 
5 

 
74 

 
51 

 
51 

 
53 

 
67 

Total Fixed Charges

 
30,626 

$
127,022 

$
125,461 

$
124,820 

$
72,439 

$
72,432 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges to be added back to Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

Less: capitalized interest

 
(82)

 
(373)

 
(1,039)

 
(1,904)

 
(2,173)

 
(1,784)

Less: preferred dividends

 
(217)

 
(867)

 
(867)

 
(867)

 
(867)

 
(867)

Adjusted Fixed Charges

 

$
30,327 

$
125,782 

$
123,555 

$
122,049 

$
69,399 

$
69,781 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

Net Income before Extraordinary Items

 

$
28,694 

$
(74,629)

$
(222,014)

$
(1,729,797)

$
144,284 

$
290,323 

Income Taxes

 
12,720 

 
18,013 

 
22,277 

 
47,720 

 
102,628 

 
143,006 

Adjusted Fixed Charges (defined above)

 
30,327 

 
125,782 

 
123,555 

 
122,049 

 
69,399 

 
69,781 

Total

 

$
71,740 

$
69,166 

$
(76,182)

$
(1,560,028)

$
316,311 

$
503,110 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

2.34

 

0.54

 

(0.61)

 

(12.50)

 

4.37

 

6.95

 

 

 

 

nm*

 

nm*

 

nm*

 

 

 

 

 

 

* not meaningful due to goodwill and fixed asset impairments

 

DPL Inc. and Subsidiaries

Statement Re: Calculation of Ratio of Earnings to Fixed Charges

 

 

 

Three

 

 

 

 

 

 

 

 

 

 

 

 

Months

 

Year

 

Year

 

Year

 

Year

 

Year

 

 

Ended

 

Ended

 

Ended

 

Ended

 

Ended

 

Ended

(in $ thousands, except ratios)

 

3/31/15

 

12/31/14

 

12/31/13

 

12/31/12

 

12/31/11

 

12/31/10

 

 

 

 

 

 

 

 

 

 

 

 

 

Adjusted Ratio of Earnings to Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

 

Total interest and Preferred Dividend

 

$
30,539 

$
126,575 

$
124,371 

$
122,865 

$
70,213 

$
70,581 

Add: Capitalized Interest

 
82 

 
373 

 
1,039 

 
1,904 

 
2,173 

 
1,784 

Less Intercompany Interest

 

-

 

                   -

 

                   -

 

                      -

 

                  -

 

                  -

Add: Interest Component of Rentals

 
5 

 
74 

 
51 

 
51 

 
53 

 
67 

Total Fixed Charges

 

$
30,626 

$
127,022 

$
125,461 

$
124,820 

$
72,439 

$
72,432 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges to be added back to Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

Less: capitalized interest

 
(82)

 
(373)

 
(1,039)

 
(1,904)

 
(2,173)

 
(1,784)

Less: preferred dividends

 
(217)

 
(867)

 
(867)

 
(867)

 
(867)

 
(867)

Adjusted Fixed Charges

 

$
30,327 

$
125,782 

$
123,555 

$
122,049 

$
69,399 

$
69,781 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

Net Income before Extraordinary Items

 

$
28,694 

$
(74,629)

$
(222,014)

$
(1,729,797)

$
144,284 

$
290,323 

Goodwill and fixed asset impairments

 

-

 
147,227 

 
332,545 

 
1,817,200 

 

                  -

 

                  -

Income Taxes

 
12,720 

 
18,013 

 
22,277 

 
47,720 

 
102,628 

 
143,006 

Adjusted Fixed Charges (defined above)

 
30,327 

 
125,782 

 
123,555 

 
122,049 

 
69,399 

 
69,781 

Total

 

$
71,740 

$
216,393 

$
256,363 

$
257,172 

$
316,311 

$
503,110 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

2.34

 

1.70

 

2.04

 

2.06

 

4.37

 

6.95