EX-12.1 5 d792250dex121.htm EXHIBIT 12.1

Exhibit 12.1

Exhibit 12.1

ALBEMARLE CORPORATION

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(In Thousands, Except for Ratios)

		Six months ended June 30, 2014				Year Ended December 31,
						2013				2012				2011				2010				2009
Earnings:
Pre-tax income from continuing operations before adjustment for net income attributable to noncontrolling interests or equity in net income or losses of unconsolidated investments		$	170,821			$	538,442			$	368,212			$	482,531			$	368,489			$	117,527
Fixed Charges:
Interest expense (before capitalized interest)			18,723				37,701				38,777				39,992				26,624				25,820
Portion (1/3) of rents representing interest factor			4,822				10,241				11,028				10,298				9,669				9,124
Total fixed charges			23,545				47,942				49,805				50,290				36,293				34,944
Amortization of capitalized interest			975				1,987				1,527				1,242				1,214				1,272
Distributed income of unconsolidated investments			11,944				21,632				26,908				23,685				16,414				18,045
Interest capitalized			(1,217	)			(6,142	)			(5,977	)			(2,418	)			(1,091	)			(1,236	)
Net income attributable to noncontrolling interests (net of tax)			(14,584	)			(26,663	)			(18,591	)			(28,083	)			(13,639	)			(11,255	)
Pre-tax income from continuing operations before adjustment for net income attributable to noncontrolling interests or equity in net income or losses of unconsolidated investments plus fixed charges, amortization of capitalized interest, less interest capitalized and net income attributable to noncontrolling interests that have not incurred fixed charges		$	191,484			$	577,198			$	421,884			$	527,247			$	407,680			$	159,297
Ratio of earnings to fixed charges			8.1				12.0				8.5				10.5				11.2				4.6