EX-12.1 9 exhibit1211231201510-k.htm EXHIBIT 12.1

Exhibit

Exhibit 12.1

ALBEMARLE CORPORATION

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(In Thousands, Except for Ratios)

	Year Ended December 31,
	2015				2014				2013				2012				2011
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	$	358,187			$	213,179			$	538,442			$	368,212			$	482,531
Fixed Charges:
Interest expense (before capitalized interest and loss on extinguishment of debt)	138,556				43,774				37,701				38,777				39,992
Portion (1/3) of rents representing interest factor	14,990				10,641				10,241				11,028				10,298
Total fixed charges	153,546				54,415				47,942				49,805				50,290
Amortization of capitalized interest	2,551				2,163				1,987				1,527				1,242
Distributed income of unconsolidated investments	59,912				40,688				21,632				26,908				23,685
Interest capitalized	(11,187		)		(2,416		)		(6,142		)		(5,977		)		(2,418		)
Net income attributable to noncontrolling interests (net of tax)	(25,158		)		(27,590		)		(26,663		)		(18,591		)		(28,083		)
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	$	537,851			$	280,439			$	577,198			$	421,884			$	527,247
Ratio of earnings to fixed charges	3.5				5.2				12.0				8.5				10.5