EX-12 4 s-4exhibit12.htm EXHIBIT 12 S-4 Exhibit 12

Exhibit 12
GrafTech International Ltd.
Computation of Ratio of Earnings to Fixed Charges
(dollars in thousands, except ratios)

 
 
Three Months Ended March 31,
 
Year Ended December 31,
 
 
2013
 
2012
 
2011
 
2010
 
2009
 
2008
Earnings:
 
 
 
 
 
 
 
 
 
 
 
 
Income before income taxes
 
$6,250
 
$
134,487

 
$
143,291

 
$
173,565

 
$
38,410

 
$
235,497

Loss/(Gain) from equity investees
 
–
 
–

 
–

 
(14,500
)
 
55,488

 
36,256

Fixed Charges
 
9,242
 
24,314

 
19,107

 
5,943

 
6,442

 
20,050

Total of Earnings plus Fixed Charges
 
15,492
 
158,801

 
162,398

 
165,008

 
100,340

 
291,803

Fixed Charges:
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense
 
9,008
 
23,247
 
18,307
 
5,076
 
5,609
 
19,350
Estimated interest portion of rental expense
 
234
 
1,067
 
800
 
867
 
833
 
700
Total fixed charges
 
9,242
 
24,314
 
19,107
 
5,943
 
6,442
 
20,050
Ratio of earnings to fixed charges
 
1.7
 
6.5
 
8.5
 
27.8
 
15.6
 
14.6