EX-12.1 3 dex121.htm STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Statement Regarding Computation of Ratio of Earnings to Fixed Charges

Exhibit 12.1

Louisiana-Pacific Corporation

Statement Re: Computation of Ratios

(dollars in millions)

 

     Six Months
Ended
June 30,
2009		     Year Ended December 31,  
     2008     2007     2006     2005     2004  

Earnings:

             

Income (loss) from continuing operations before taxes and equity in (earnings) losses of unconsolidated affiliates

    $ (86.7 )    $ (753.3 )    $ (270.6 )    $ 167.8      $ 534.9      $ 693.9   

Distributed earnings from unconsolidated affiliates

      —          —          —          —          —          —     

Fixed charges

      36.3        53.3        54.8        54.9        59.2        71.9   

Less interest capitalized

      (0.1 )      (3.6 )      (18.9 )      (4.5 )      (3.7 )      (4.2 ) 

Plus amortization of interest capitalized

      1.7        3.2        1.3        1.7        2.0        3.0   
                                                

Earnings

    $ (48.8 )    $ (700.4 )    $ (233.4 )    $ 219.9      $ 592.4      $ 764.6   
                                                

Fixed Charges:

             

Interest expense, including amortization of discounts and debt issuance costs

    $ 36.2      $ 49.7      $ 35.9      $ 50.4      $ 55.5      $ 67.7   

Interest capitalized

      0.1        3.6        18.9        4.5        3.7        4.2   
                                                

Fixed charges

    $ 36.3      $ 53.3      $ 54.8      $ 54.9      $ 59.2      $ 71.9   
                                                

Consolidated ratio of earnings to fixed charges (1)

      —          —          —          4.0x        10.0x        10.6x   

Consolidated deficiency of earnings to fixed charges (1)

    $ 48.8      $ 700.4      $ 233.4        —          —          —     

 

(1) We have not had any preferred stock outstanding during the last five years and have, therefore, not paid any dividends on preferred stock, which has resulted in our consolidated ratio of earnings to combined fixed charges and preferred stock dividends being the same as our consolidated ratio of earnings to fixed charges, or our consolidated deficiency of earnings to combined fixed charges and preferred stock dividends being the same as our consolidated deficiency of earnings to fixed charges, as applicable, for each of the above periods.