Attached files
file | filename |
---|---|
EX-99.38 - EX-99.38 - HEADWATERS INC | hw-20161231ex993890a1b.htm |
EX-95 - EX-95 - HEADWATERS INC | hw-20161231xex95.htm |
EX-32 - EX-32 - HEADWATERS INC | hw-20161231xex32.htm |
EX-31.2 - EX-31.2 - HEADWATERS INC | hw-20161231ex3121b5d6c.htm |
EX-31.1 - EX-31.1 - HEADWATERS INC | hw-20161231ex31114eade.htm |
10-Q - 10-Q - HEADWATERS INC | hw-20161231x10q.htm |
Exhibit 12
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
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Three Months |
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Ended |
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Year Ended September 30, |
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December 31, |
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(dollars in thousands) |
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2012* |
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2013 |
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2014 |
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2015 |
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2016 |
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2016 |
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Fixed Charges Computation |
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Interest expensed and capitalized (1) |
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$ |
38,809 |
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$ |
37,100 |
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$ |
44,768 |
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$ |
58,681 |
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$ |
39,312 |
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$ |
8,080 |
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Amortized premiums, discounts, and capitalized expenses related to indebtedness |
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14,184 |
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5,841 |
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2,175 |
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6,179 |
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3,973 |
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930 |
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Reasonable approximation of interest within rental expense |
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3,106 |
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3,454 |
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3,342 |
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3,437 |
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3,615 |
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967 |
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Total Fixed Charges and Preferred Equity Dividends |
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$ |
56,099 |
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$ |
46,395 |
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$ |
50,285 |
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$ |
68,297 |
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$ |
46,900 |
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$ |
9,977 |
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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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$ |
(16,454) |
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$ |
12,209 |
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$ |
20,576 |
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$ |
37,932 |
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$ |
72,479 |
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$ |
10,587 |
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Plus |
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Fixed charges |
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56,099 |
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46,395 |
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50,285 |
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68,297 |
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46,900 |
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9,977 |
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Minus |
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Interest capitalized |
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137 |
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192 |
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427 |
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585 |
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837 |
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89 |
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Total Earnings |
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$ |
39,508 |
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$ |
58,412 |
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$ |
70,434 |
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$ |
105,644 |
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$ |
118,542 |
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$ |
20,475 |
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Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends |
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0.70 |
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1.26 |
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1.40 |
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1.55 |
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2.53 |
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2.05 |
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* The deficiency of earnings to fixed charges for the year ended September 30, 2012 was $16.6 million.
(1) |
Interest expense associated with unrecognized tax benefits is included in income tax expense, not with interest expense. |