EX-12.1 3 dex121.htm STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Statement of Computation of Ratio of Earnings to Fixed Charges

Exhibit 12.1

ALBEMARLE CORPORATION

COMPUTATION OF EARNINGS TO FIXED CHARGES

(In Thousands Except for Ratios)

 

     Year Ended December 31,  
     2008     2007     2006     2005     2004  

Earnings:

          

Pre-tax income before adjustment for minority interests in income of consolidated subsidiaries or equity in net income or losses of unconsolidated investments

   $ 183,343     $ 277,819     $ 133,386     $ 123,438     $ 72,538  

Fixed Charges:

          

Interest expense (before capitalized interest)

     39,171       42,835       45,143       43,138       17,750  

Portion ( 1/3) of rents representing interest factor

     10,232       8,731       8,284       8,243       6,445  
                                        

Total fixed charges

     49,403       51,566       53,427       51,381       24,195  
                                        

Amortization of capitalized interest

     1,335       1,680       984       1,069       1,091  

Distributed income of unconsolidated investments

     13,135       11,769       13,536       16,189       4,000  

Interest capitalized

     (996 )     (4,503 )     (1,179 )     (1,167 )     (400 )

Minority interests in income of consolidated subsidiaries (net of tax)

     (18,806 )     (17,632 )     (13,258 )     (7,469 )     (5,101 )
                                        

Pre-tax income before adjustment for minority interests in income of consolidated subsidiaries or equity in net income or losses of unconsolidated investments plus fixed charges, amortization of capitalized interest, less interest capitalized and minority interests in income of consolidated subsidiaries that have not incurred fixed charges

   $ 227,414     $ 320,699     $ 186,896     $ 183,441     $ 96,323  
                                        

Ratio of earnings to fixed charges

     4.6x       6.2x       3.5x       3.6x       4.0x  
                                        

 

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