EX-12.1 4 s-3asrfeb2014xex121.htm EXHIBIT 12.1 EX12.1-10K (2013)


Exhibit 12.1
Celanese Corporation and Subsidiaries
Statement of Computation of Ratio of Earnings to Fixed Charges
Change in accounting policy regarding pension and other postretirement benefits
Effective January 1, 2013, we elected to change our policy for recognizing actuarial gains and losses and changes in the fair value of plan assets for our defined benefit pension plans and other postretirement benefit plans. We now immediately recognize in operating results net actuarial gains and losses and the change in fair value of plan assets annually in the fourth quarter of each fiscal year and whenever a plan is required to be remeasured. The remaining components of our net periodic benefit cost are recorded on a quarterly basis. Financial information for prior periods has been retrospectively adjusted.
 
Year Ended December 31,
 
2013
 
2012
 
2011
 
2010
 
2009
 
(In $ millions, except ratios)
Earnings:
 
 
 
 
 
 
 
 
 
Earnings (loss) from continuing operations before tax
1,609

 
321

 
467

 
433

 
105

Subtract
 
 
 
 
 
 
 
 
 
Equity in net earnings of affiliates
(180
)
 
(242
)
 
(192
)
 
(168
)
 
(99
)
Add
 
 
 
 
 
 
 
 
 
Income distributions from equity investments
141

 
262

 
205

 
138

 
78

Amortization of capitalized interest
3

 
2

 
2

 
2

 
2

Total fixed charges
234

 
247

 
283

 
262

 
268

Total earnings as defined before fixed charges
1,807

 
590

 
765

 
667

 
354

Fixed charges:
 
 
 
 
 
 
 
 
 
Interest expense
172

 
185

 
221

 
204

 
207

Capitalized interest
9

 
7

 
4

 
2

 
2

Estimated interest portion of rent expense
53

 
55

 
58

 
53

 
49

Cumulative preferred stock dividends

 

 

 
3

 
10

Guaranteed payment to minority shareholders

 

 

 

 

Total fixed charges
234

 
247

 
283

 
262

 
268

Ratio of earnings to fixed charges
7.7x
 
2.4x
 
2.7x
 
2.5x
 
1.3x