Attached files
Exhibit 12
Cytec Industries Inc.
Computation of Ratio of Earnings to Fixed Charges
(Dollar amounts in millions)
Three Months Ended September 30, |
Nine Months Ended September 30, |
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2010 | 2009 | 2010 | 2009 | |||||||||||||
Earnings from continuing operations before income taxes, equity in earnings of associated companies, minority interest and cumulative effect of accounting change |
$ | 57.8 | $ | 20.4 | $ | 193.8 | $ | (14.9 | ) | |||||||
Add: |
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Distributed income of associated companies |
0.7 | 0.0 | 1.4 | 1.0 | ||||||||||||
Amortization of capitalized interest |
0.6 | 0.5 | 1.6 | 1.3 | ||||||||||||
Fixed charges |
11.7 | 12.4 | 35.3 | 32.3 | ||||||||||||
Less: |
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Capitalized interest |
(0.7 | ) | (1.7 | ) | (2.1 | ) | (4.9 | ) | ||||||||
Minority interest |
(0.6 | ) | (0.4 | ) | (2.0 | ) | (1.0 | ) | ||||||||
Earnings as adjusted |
$ | 69.5 | $ | 31.2 | $ | 228.0 | $ | 13.8 | ||||||||
Fixed charges: |
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Interest on indebtedness including amortized premiums, discount and deferred financing costs |
$ | 10.3 | $ | 11.1 | $ | 31.1 | $ | 28.4 | ||||||||
Portion of rents representative of the interest factor |
1.4 | 1.3 | 4.2 | 3.9 | ||||||||||||
Fixed charges |
$ | 11.7 | $ | 12.4 | $ | 35.3 | $ | 32.3 | ||||||||
Ratio of earnings to fixed charges |
5.9 | 2.5 | 6.5 | 0.4 | ||||||||||||
(1) | In order to achieve a one-to-one ratio of earnings to fixed charges for the nine months ended September 30, 2009, earnings would need to increase by $18.5. |