Attached files
| file | filename |
|---|---|
| EX-23.1 - EXHIBIT 23.1 - ALLEGHENY TECHNOLOGIES INC | fy201710k231.htm |
| EX-32.1 - EXHIBIT 32.1 - ALLEGHENY TECHNOLOGIES INC | fy201710-k321.htm |
| EX-31.2 - EXHIBIT 31.2 - ALLEGHENY TECHNOLOGIES INC | fy201710-k312.htm |
| EX-31.1 - EXHIBIT 31.1 - ALLEGHENY TECHNOLOGIES INC | fy201710-k311.htm |
| EX-21.1 - EXHIBIT 21.1 - ALLEGHENY TECHNOLOGIES INC | fy201710k211.htm |
| 10-K - 10-K - ALLEGHENY TECHNOLOGIES INC | atify201710-k.htm |
Exhibit 12.1
Allegheny Technologies Incorporated
Computation of Ratio of Earnings to Fixed Charges
(Unaudited)
(Dollars in millions) | |||||||||||||||||||||
For the Years Ended December 31, | 2017 | 2016 | 2015 | 2014 | 2013 | ||||||||||||||||
Income (loss) from continuing operations before income tax provision and cumulative effect of change in accounting principle | $ | (86.5 | ) | $ | (734.0 | ) | $ | (478.0 | ) | $ | 1.5 | $ | (154.8 | ) | |||||||
Distributed earnings net of (income) loss recognized on less than fifty percent owned persons | (0.6 | ) | 2.3 | 0.1 | 8.9 | 15.3 | |||||||||||||||
Noncontrolling interest in the income of subsidiary with fixed charges | (12.2 | ) | (13.8 | ) | (12.0 | ) | (12.2 | ) | (7.6 | ) | |||||||||||
$ | (99.3 | ) | $ | (745.5 | ) | $ | (489.9 | ) | $ | (1.8 | ) | $ | (147.1 | ) | |||||||
Fixed Charges: | |||||||||||||||||||||
Interest expense | $ | 130.1 | $ | 121.6 | $ | 109.8 | $ | 107.9 | $ | 62.3 | |||||||||||
Portion of rents deemed to be interest | 7.0 | 7.7 | 7.8 | 7.6 | 7.5 | ||||||||||||||||
Capitalized interest | 2.6 | 4.7 | 2.2 | 5.3 | 45.7 | ||||||||||||||||
Debt extinguishment charge | 37.0 | — | — | — | — | ||||||||||||||||
Amortization of debt expense | 4.8 | 3.8 | 1.8 | 1.9 | 3.8 | ||||||||||||||||
Fixed Charges excluding capitalized interest | 181.5 | 137.8 | 121.6 | 122.7 | 119.3 | ||||||||||||||||
Earnings adjustments: | |||||||||||||||||||||
Capitalized interest | (2.6 | ) | (4.7 | ) | (2.2 | ) | (5.3 | ) | (45.7 | ) | |||||||||||
Earnings, as adjusted | $ | 79.6 | $ | (612.4 | ) | $ | (370.5 | ) | $ | 115.6 | $ | (73.5 | ) | ||||||||
Ratio of earnings to fixed charges | — | (1) | — | (1) | — | (1) | — | (1) | — | (1) | |||||||||||
(1) For the years ended December 31, 2017, 2016, 2015, 2014 and 2013, fixed charges exceeded earnings by $101.9 million, $750.2 million, $492.1 million, $7.1 million and $192.8 million, respectively.