Attached files
| file | filename |
|---|---|
| EX-32 - EX-32 - HEADWATERS INC | a15-12035_1ex32.htm |
| 10-Q - 10-Q - HEADWATERS INC | a15-12035_110q.htm |
| EX-95 - EX-95 - HEADWATERS INC | a15-12035_1ex95.htm |
| EX-31.1 - EX-31.1 - HEADWATERS INC | a15-12035_1ex31d1.htm |
| EX-31.2 - EX-31.2 - HEADWATERS INC | a15-12035_1ex31d2.htm |
Exhibit 12
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
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Nine Months ended |
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Year Ended September 30, |
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June 30, |
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(dollars in thousands) |
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2010** |
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2011 |
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2012** |
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2013 |
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2014 |
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2015 |
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Fixed Charges Computation |
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Interest expensed and capitalized (1) |
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$ |
55,908 |
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$ |
106,557 |
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$ |
38,809 |
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$ |
37,100 |
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$ |
44,768 |
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$ |
50,877 |
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Amortized premiums, discounts, and capitalized expenses related to indebtedness |
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16,027 |
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20,069 |
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14,184 |
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5,841 |
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2,175 |
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5,611 |
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Reasonable approximation of interest within rental expense |
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3,670 |
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3,323 |
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3,106 |
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3,454 |
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3,342 |
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2,547 |
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Total Fixed Charges and Preferred Equity Dividends |
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$ |
75,605 |
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$ |
129,949 |
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$ |
56,099 |
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$ |
46,395 |
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$ |
50,285 |
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$ |
59,035 |
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Earnings Computation |
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Pre-tax income from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees |
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$ |
(46,390 |
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$ |
(138,093 |
) |
$ |
(16,454 |
) |
$ |
12,209 |
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$ |
20,576 |
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$ |
4,768 |
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Plus |
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Fixed charges |
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75,605 |
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129,949 |
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56,099 |
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46,395 |
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50,285 |
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59,035 |
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Minus |
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Interest capitalized |
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441 |
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91 |
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137 |
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192 |
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427 |
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431 |
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Total Earnings |
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$ |
28,774 |
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$ |
(8,235 |
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$ |
39,508 |
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$ |
58,412 |
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$ |
70,434 |
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$ |
63,372 |
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Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends |
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0.38 |
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N/A |
* |
0.70 |
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1.26 |
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1.40 |
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1.07 |
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* Total earnings for this period were less than zero dollars. The deficiency of earnings to fixed charges for the year ended September 30, 2011 was $138.2 million.
** The deficiency of earnings to fixed charges for the years ended September 30, 2010 and 2012 were $46.8 million and $16.6 million, respectively.
(1) Interest expense associated with unrecognized tax benefits is included in income tax expense, not with interest expense.