EX-12.1 2 d260152dex121.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Computation of Ratio of Earnings to Fixed Charges

Exhibit 12.1

ALBEMARLE CORPORATION

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(In Thousands Except for Ratios)

 

     Year Ended December 31,  
     2011     2010     2009     2008     2007  

Earnings:

          

Pre-tax income before adjustment for net income attributable to noncontrolling interests or equity in net income or losses of unconsolidated investments

   $ 550,623      $ 392,103      $ 160,273      $ 183,343      $ 277,819   

Fixed Charges:

          

Interest expense (before capitalized interest)

     39,992        26,624        25,820        39,171        42,835   

Portion (1/3) of rents representing interest factor

     10,298        9,669        9,124        10,232        8,731   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total fixed charges

     50,290        36,293        34,944        49,403        51,566   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Amortization of capitalized interest

     1,242        1,214        1,272        1,335        1,680   

Distributed income of unconsolidated investments

     23,685        16,414        18,045        13,135        11,769   

Interest capitalized

     (2,418     (1,091     (1,236     (996     (4,503

Net income attributable to noncontrolling interests (net of tax)

     (28,083     (13,639     (11,255     (18,806     (17,632
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Pre-tax income 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

   $ 595,339      $ 431,294      $ 202,043      $ 227,414      $ 320,699   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Ratio of earnings to fixed charges

     11.8x        11.9x        5.8x        4.6x        6.2x