EX-12.1 4 fy2016q1exhibit121.htm EXHIBIT 12.1 Exhibit


Exhibit 12.1
Allegheny Technologies Incorporated
Computation of Ratio of Earnings to Fixed Charges
(Dollars in millions)
(Unaudited)
 
Three Months Ended
 
 
March 31, 2016
 
Loss before income tax benefit and cumulative effect of change in accounting principle
$
(132.3
)
 
Income recognized on less than fifty percent owned persons
0.3

 
Noncontrolling interest in the income of subsidiary with fixed charges
(3.1
)
 
 
$
(135.1
)
 
Fixed Charges:
 
 
Interest expense
$
28.2

 
Portion of rents deemed to be interest
2.0

 
Capitalized interest
0.8

 
Amortization of debt expense
0.6

 
Fixed charges excluding capitalized interest
31.6

 
Earnings adjustments:
 
 
Capitalized interest
(0.8
)
 
Earnings, as adjusted
$
(104.3
)
 
Ratio of earnings to fixed charges
—

(1)

(1) For the three months ended March 31, 2016, fixed charges exceeded earnings by $135.9 million.