Attached files
| file | filename |
|---|---|
| 10-K - FORM 10-K - COVANTA HOLDING CORP | c55585e10vk.htm |
| EX-31.2 - EX-31.2 - COVANTA HOLDING CORP | c55585exv31w2.htm |
| EX-23.1 - EX-23.1 - COVANTA HOLDING CORP | c55585exv23w1.htm |
| EX-32.1 - EX-32.1 - COVANTA HOLDING CORP | c55585exv32w1.htm |
| EX-31.1 - EX-31.1 - COVANTA HOLDING CORP | c55585exv31w1.htm |
| EX-21.1 - EX-21.1 - COVANTA HOLDING CORP | c55585exv21w1.htm |
Exhibit 12.1
Covanta
Holding Corporation
Computation of Ratio of Earnings to Fixed Charges
Computation of Ratio of Earnings to Fixed Charges
| For the Years Ended December 31, | ||||||||||||||||||||
| 2009 | 2008 | 2007 | 2006 | 2005 | ||||||||||||||||
| (In thousands, except ratios) | ||||||||||||||||||||
|
Earnings as defined in
Regulation S-K(1):
|
||||||||||||||||||||
|
Income before income tax expense and equity in net income from
unconsolidated investments
|
$ | 137,436 | $ | 196,899 | $ | 132,636 | $ | 122,228 | $ | 77,565 | ||||||||||
|
Fixed Charges
|
125,913 | 134,697 | 153,865 | 187,254 | 157,315 | |||||||||||||||
|
Capitalized Interest
|
(508 | ) | (346 | ) | — | — | — | |||||||||||||
|
Total Earnings
|
$ | 262,841 | $ | 331,250 | $ | 286,501 | $ | 309,482 | $ | 234,880 | ||||||||||
|
Fixed Charges as defined in
Regulation S-K(2):
|
||||||||||||||||||||
|
Interest expense
|
$ | 111,305 | $ | 118,863 | $ | 137,060 | $ | 169,717 | $ | 142,404 | ||||||||||
|
Imputed interest on operating leases
|
14,608 | 15,834 | 16,805 | 17,537 | 14,911 | |||||||||||||||
|
Total Fixed Charges
|
$ | 125,913 | $ | 134,697 | $ | 153,865 | $ | 187,254 | $ | 157,315 | ||||||||||
|
Ratio of Earnings to Fixed Charges
|
2.09 | 2.46 | 1.86 | 1.65 | 1.49 | |||||||||||||||
| (1) | For purposes of computing the ratio of earnings to fixed charges, the term “earnings” shall be defined as income before income tax expense and equity in net income from unconsolidated investments plus fixed charges less capitalized interest. | |
| (2) | For purposes of computing the ratio of earnings to fixed charges, the term “fixed charges” shall be defined as interest expense and imputed interest for operating leases. |
137