EX-12.1 2 exhibit1210807148k1.htm EXHIBIT Exhibit 12.1 08.07.14 8K (1)


Exhibit 12.1
ALBEMARLE CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In Thousands, Except for Ratios)
 
 
Year Ended December 31,
 
2013
 
2012
 
2011
 
2010
 
2009
Earnings:
 
 
 
 
 
 
 
 
 
Pre-tax income from continuing operations
before adjustment for net income
attributable to noncontrolling interests
or equity in net income or losses of
unconsolidated investments
$
538,442

 
$
368,212

 
$
482,531

 
$
368,489

 
$
117,527

Fixed Charges:
 
 
 
 
 
 
 
 
 
Interest expense (before capitalized interest)
37,701

 
38,777

 
39,992

 
26,624

 
25,820

Portion (1/3) of rents representing interest
factor
10,241

 
11,028

 
10,298

 
9,669

 
9,124

Total fixed charges
47,942

 
49,805

 
50,290

 
36,293

 
34,944

Amortization of capitalized interest
1,987

 
1,527

 
1,242

 
1,214

 
1,272

Distributed income of unconsolidated
investments
21,632

 
26,908

 
23,685

 
16,414

 
18,045

Interest capitalized
(6,142
)
 
(5,977
)
 
(2,418
)
 
(1,091
)
 
(1,236
)
Net income attributable to noncontrolling
interests (net of tax)
(26,663
)
 
(18,591
)
 
(28,083
)
 
(13,639
)
 
(11,255
)
Pre-tax income from continuing operations
before adjustment for net income
attributable to noncontrolling interests
or equity in net income or losses of
unconsolidated investments plus fixed
charges, amortization of capitalized interest,
less interest capitalized and net income
attributable to noncontrolling interests that
have not incurred fixed charges
$
577,198

 
$
421,884

 
$
527,247

 
$
407,680

 
$
159,297

Ratio of earnings to fixed charges
12.0

 
8.5

 
10.5

 
11.2

 
4.6