EX-12 2 ex-12q32016.htm EXHIBIT 12 Exhibit
Exhibit 12

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
THE ANDERSONS, INC.

 
Nine months ended September 30,
(in thousands, except for ratio)
2016
 
2015
Computation of earnings
 
 
 
  Pretax income (a)
$
857

 
$
29,655

  Add:
 
 
 
    Interest expense on indebtedness
18,046

 
16,210

    Amortization of debt issue costs
823

 
801

    Interest portion of rent expense (b)
7,142

 
6,619

    Distributed income of equity investees
16,623

 
19,325

  Earnings
$
43,491

 
$
72,610

 
 
 
 
Computation of fixed charges
 
 
 
    Interest expense on indebtedness
$
18,046

 
$
16,210

    Amortization of debt issue costs
823

 
801

    Interest portion of rent expense (b)
7,142

 
6,619

  Fixed charges
$
26,011

 
$
23,630

 
 
 
 
Ratio of earnings to fixed charges
1.67
 
3.07


(a) Pretax income as presented is income from continuing operations before adjustment for income or loss from equity investees.
(b) The portion of rent expense on operating leases included in the calculation of the fixed charges ratio above is a reasonable approximation of the interest factor on those agreements.