EX-12.1 2 fy2016q3exhibit121.htm EXHIBIT 12.1
Exhibit 12.1
Allegheny Technologies Incorporated
Computation of Ratio of Earnings to Fixed Charges
(Dollars in millions)
(Unaudited)

| Nine Months Ended |
| September 30, 2016 |
Loss before income tax benefit and cumulative effect of change in accounting principle | $ | (705.2 | ) |
Distributed earnings net of income recognized on less than fifty percent owned persons | 2.5 |  |
Noncontrolling interest in the income of subsidiary with fixed charges | (10.0 | ) |
| $ | (712.7 | ) |
Fixed Charges: |  |
Interest expense | $ | 89.9 |  |
Portion of rents deemed to be interest | 5.7 |  |
Capitalized interest | 3.1 |  |
Amortization of debt expense | 2.6 |  |
Fixed charges excluding capitalized interest | 101.3 |  |
Earnings adjustments: |  |
Capitalized interest | (3.1 | ) |
Earnings, as adjusted | $ | (614.5 | ) |
Ratio of earnings to fixed charges | — |  | (1)

(1) For the nine months ended September 30, 2016, fixed charges exceeded earnings by $715.8 million.