EX-12.1 2 ex121-kalux12311210k.htm STATEMENT REGARDING COMPUTATION OF RATIOS EX12.1-KALU - 12.31.12 10K


Exhibit 12.1

KAISER ALUMINUM CORPORATION AND SUBSIDIARY COMPANIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In millions of dollars, except for ratio of earnings to fixed charges)

 
 
Year Ended December 31,
 
 
2012
 
2011
 
2010
 
2009
 
2008
 
 
 
Earnings:
 
 
 
 
 
 
 
 
 
 
Income (loss) from continuing operations before taxes and equity in (earnings) losses of unconsolidated affiliates
 
$
139.6

 
$
41.3

 
$
25.1

 
$
118.6

 
$
(91.3
)
Fixed charges
 
34.1

 
22.6

 
17.9

 
5.1

 
3.4

Interest capitalized
 
(1.7
)
 
(1.3
)
 
(2.8
)
 
(2.7
)
 
(0.3
)
Amortization of interest capitalized
 
0.7

 
0.6

 
0.5

 
0.3

 
0.2

Earnings
 
$
172.7

 
$
63.2

 
$
40.7

 
$
121.3

 
$
(88.0
)
 
 
 
 
 
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
 
 
 
 
 
Interest expense, including amortization of discounts, debt issuance costs and interest component of rent expense
 
$
29.1

 
$
18.0

 
$
11.8

 
$
—

 
$
1.0

Interest capitalized
 
1.7

 
1.3

 
2.8

 
2.7

 
0.3

Portion of rental representative of interest
 
3.3

 
3.3

 
3.3

 
2.4

 
2.1

Fixed charges
 
$
34.1

 
$
22.6

 
$
17.9

 
$
5.1

 
$
3.4

 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
 
5.1

 
2.8

 
2.3

 
23.6

 
(25.9
)
 
 
 
 
 
 
 
 
 
 
 
Deficiency of earnings to fixed charges
 
$
—

 
$
—

 
$
—

 
$
—

 
$
(91.4
)