Attached files
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10-Q - 10-Q - OMNOVA SOLUTIONS INC | omn-0831201510q.htm |
EX-32.1 - EXHIBIT 32.1 - OMNOVA SOLUTIONS INC | omn-08312015xex321.htm |
EX-31.2 - EXHIBIT 31.2 - OMNOVA SOLUTIONS INC | omn-08312015xex312.htm |
EX-31.1 - EXHIBIT 31.1 - OMNOVA SOLUTIONS INC | omn-08312015xex311.htm |
Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions, except ratios)
Nine Months Ended August 31, | Year Ended November 30, | |||||||||||||||
2015 | 2014 | 2013 | 2012 | 2011 | ||||||||||||
Pre-tax (loss) income from continuing operations (a) | $ | (.9 | ) | $ | 12.1 | $ | 26.5 | $ | 36.9 | $ | 30.1 | |||||
Adjustment for (income) loss from equity investees | — | — | — | — | — | |||||||||||
Pre-tax income from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees | $ | (.9 | ) | $ | 12.1 | $ | 26.5 | $ | 36.9 | $ | 30.1 | |||||
Distributed income equity investees | — | — | — | — | ||||||||||||
Less: Capitalized interest | — | — | — | — | ||||||||||||
Amortization of interest previously capitalized | — | — | — | — | ||||||||||||
Adjusted pre-tax income (loss) from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees | $ | (.9 | ) | $ | 12.1 | $ | 26.5 | $ | 36.9 | $ | 30.1 | |||||
Fixed Charges: | ||||||||||||||||
Interest expense | $ | 19.0 | $ | 30.6 | $ | 29.6 | $ | 33.8 | $ | 35.3 | ||||||
Interest capitalized during the period | — | 1.0 | — | — | — | |||||||||||
Amortization of debt issuance costs | 1.5 | 2.3 | 2.3 | 2.7 | 2.7 | |||||||||||
Imputed interest portion of rent expense | 1.3 | 2.3 | 2.2 | 1.4 | 1.4 | |||||||||||
Total Fixed Charges | $ | 21.8 | $ | 36.2 | $ | 34.1 | $ | 37.9 | $ | 39.4 | ||||||
Pre-tax income (loss) from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees plus fixed charges | $ | 20.9 | $ | 48.3 | $ | 60.6 | $ | 74.8 | $ | 69.5 | ||||||
Ratio of Earnings to Fixed Charges | 1.0 | 1.3 | 1.8 | 2.0 | 1.8 |
a. | For the nine months ended August 31, 2015, the ratio of earnings to fixed charges was equal to 1. Our earnings were insufficient to cover fixed charges requirements by $.9 million for the nine months ended August 31, 2015. |