Attached files
file | filename |
---|---|
EXCEL - IDEA: XBRL DOCUMENT - HEADWATERS INC | Financial_Report.xls |
EX-32 - EX-32 - HEADWATERS INC | a15-7747_1ex32.htm |
EX-31.2 - EX-31.2 - HEADWATERS INC | a15-7747_1ex31d2.htm |
10-Q - 10-Q - HEADWATERS INC | a15-7747_110q.htm |
EX-31.1 - EX-31.1 - HEADWATERS INC | a15-7747_1ex31d1.htm |
EX-99.13 - EX-99.13 - HEADWATERS INC | a15-7747_1ex99d13.htm |
Exhibit 12
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
|
|
|
|
|
|
|
|
|
|
|
|
Six Months ended |
| ||||||
(dollars in thousands) |
|
Year Ended September 30, |
|
March 31, |
| ||||||||||||||
|
|
2010 |
|
2011 |
|
2012 |
|
2013 |
|
2014 |
|
2015 |
| ||||||
Fixed Charges Computation |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Interest expensed and capitalized (1) |
|
$ |
55,908 |
|
$ |
106,557 |
|
$ |
38,809 |
|
$ |
37,100 |
|
$ |
44,768 |
|
$ |
43,229 |
|
Amortized premiums, discounts, and capitalized expenses related to indebtedness |
|
16,027 |
|
20,069 |
|
14,184 |
|
5,841 |
|
2,175 |
|
5,042 |
| ||||||
Reasonable approximation of interest within rental expense |
|
3,670 |
|
3,323 |
|
3,106 |
|
3,454 |
|
3,342 |
|
1,699 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Total Fixed Charges and Preferred Equity Dividends |
|
$ |
75,605 |
|
$ |
129,949 |
|
$ |
56,099 |
|
$ |
46,395 |
|
$ |
50,285 |
|
$ |
49,970 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Earnings Computation |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Pre-tax income from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees |
|
$ |
(46,390 |
) |
$ |
(138,093 |
) |
$ |
(16,454 |
) |
$ |
12,209 |
|
$ |
20,576 |
|
$ |
(20,583 |
) |
Plus |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Fixed charges |
|
75,605 |
|
129,949 |
|
56,099 |
|
46,395 |
|
50,285 |
|
49,970 |
| ||||||
Minus |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Interest capitalized |
|
441 |
|
91 |
|
137 |
|
192 |
|
427 |
|
299 |
| ||||||
Total Earnings |
|
$ |
28,774 |
|
$ |
(8,235 |
) |
$ |
39,508 |
|
$ |
58,412 |
|
$ |
70,434 |
|
$ |
29,088 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends |
|
0.38 |
|
N/A * |
|
0.70 |
|
1.26 |
|
1.40 |
|
0.58 |
|
* Total earnings for this period was less than zero dollars. The deficiency of earnings to fixed charges for the year ended September 30, 2011 was $138.2 million.
(1) Interest expense associated with unrecognized tax benefits is included in income tax expense, not with interest expense.