EX-12.1 48 a2225110zex-12_1.htm EX-12.1

Exhibit 12.1

 

AECOM

COMPUTATION OF CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES

(Unaudited)

 

 

 

Year Ended

 

Six Months Ended

 

 

 

September

 

September

 

September

 

September

 

September

 

 

 

 

 

30,
2014

 

30,
2013

 

30,
2012

 

30,
2011

 

30,
2010

 

March 31,
2015(1)

 

March
31, 2014

 

 

 

(In millions, except for ratio)

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from operations

 

$

257

 

$

312

 

$

(31

)

$

339

 

$

320

 

$

(234

)

$

94

 

Add:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges

 

90

 

92

 

94

 

100

 

59

 

305

 

45

 

Amortization of capitalized interest

 

2

 

2

 

2

 

2

 

1

 

16

 

1

 

Distributed income of equity investees

 

24

 

31

 

26

 

37

 

8

 

73

 

15

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capitalized interest

 

7

 

2

 

—

 

7

 

6

 

85

 

3

 

Noncontrolling interest

 

(3

)

(4

)

(2

)

(8

)

(12

)

(41

)

(2

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Earnings

 

$

369

 

$

439

 

$

93

 

$

479

 

$

394

 

$

116

 

$

154

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

41

 

$

45

 

$

47

 

$

42

 

$

11

 

179

 

21

 

Capitalized interest

 

7

 

2

 

—

 

7

 

6

 

85

 

3

 

Interest component of rent expense

 

42

 

45

 

47

 

51

 

42

 

41

 

21

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total fixed charges

 

$

90

 

$

92

 

$

94

 

$

100

 

$

59

 

$

305

 

$

45

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated ratio of earnings to fixed charges

 

4.1

 

4.8

 

1.0

 

4.8

 

6.7

 

n/a

 

3.4

 

 

(1)                       Earnings for the six months ended March 31, 2015 were inadequate to cover fixed charges primarily due to acquisition and integration expenses and the corresponding interest related to the acquisition of URS Corporation. The coverage deficiency was approximately $189 million.