EX-12.1 3 exhibit121ratioofearningst.htm EXHIBIT 12.1 - RATIO OF EARNINGS TO FIXED CHARGES Exhibit


EXHIBIT 12.1
Century Aluminum Company
Ratio of Earnings to Fixed Charges
(In thousands, except ratios)

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Nine months ended September 30,
 
 
Year Ended December 31,
 
 
2010
 
2011
 
2012
 
2013
 
2014
 
2015
 
 


 
 
 
Earnings as Defined in Regulation S-K:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pretax income from continuing operations before adjustment for minority interests in consolidated subsidiaries
$
67,546

 
$
22,239

 
$
(29,323)

 
$
(39,844)

 
$
143,477

 
$
(6,094)

Add:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges
 
25,625

 
 
23,699

 
 
24,030

 
 
23,091

 
 
22,015

 
 
16,830

Distributed income of equity investees
 
—

 
 
3,056

 
 
6,622

 
 
—

 
 
—

 
 
—

Subtract:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest capitalized
 
(306)

 
 
(531)

 
 
(333)

 
 
(94)

 
 
(268)

 
 
(288)

Earnings   
$
92,865

 
$
48,463

 
$
996

 
$
(16,847)

 
$
165,224

 
$
10,448

Fixed Charges as Defined in Regulation S-K:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expensed and capitalized
$
23,540

 
$
21,599

 
$
21,914

 
$
21,601

 
$
20,950

 
$
16,012

Amortized premiums, discounts and capitalized expenses related to indebtedness
 
2,085

 
 
2,100

 
 
2,116

 
 
1,490

 
 
1,065

 
 
818

Total Fixed Charges   
$
25,625

 
$
23,699

 
$
24,030

 
$
23,091

 
$
22,015

 
$
16,830

Ratio of Earnings to Fixed Charges   
 
3.62

 
 
2.04

 
 
0.04

 
 
-0.73

 
 
7.51

 
 
0.62

Dollar amount of the deficiency
 
—

 
 
—

 
 
23,034

 
 
39,938

 
 
—

 
 
6,383

During the period presented, we have not paid any dividends on preferred equity securities. Therefore, the ratio of earnings to combined fixed charges and preferred dividend requirements is the same as the ratio of earnings to fixed charges for the periods presented.