EX-12 2 v442478_ex12.htm EXHIBIT 12

Exhibit 12

TECNOGLASS, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Amounts in thousands of dollars)

|  | Three Months Ended March 31, 2016 |  |  | Three Months Ended March 31, 2015 |  |  | Year Ended December 31, 2015 |  |  |  | Year Ended December 31, 2014 |
Fixed charges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expensed and capitalized |  | $ | 3,225 |  |  | $ | 2,416 |  |  | $ | 10,531 |  |  | $ | 9,046 |
Estimated interest within rental expense |  |  | 84 |  |  |  | 49 |  |  |  | 242 |  |  |  | 181 |
Total fixed charges |  | $ | 3,309 |  |  | $ | 2,465 |  |  | $ | 10,773 |  |  | $ | 9,227 |
Earnings available for fixed charges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Income before taxes |  | $ | 17,307 |  |  | $ | 16,634 |  |  | $ | 7,926 |  |  | $ | 18,049 |
Add: fixed charges |  |  | 3,309 |  |  |  | 2,465 |  |  |  | 10,773 |  |  |  | 9,227 |
Add: amortization of capitalized interest |  |  | 22 |  |  |  | - |  |  |  | 35 |  |  |  | - |
Less: interest capitalized |  |  | (101 | ) |  |  | (264 | ) |  |  | (1,258 | ) |  |  | (145 | )
Total earnings available for fixed charges |  | $ | 20,537 |  |  | $ | 18,835 |  |  | $ | 17,476 |  |  | $ | 27,131 |
Ratio of earnings to fixed charges |  | 6.21 |  |  | 7.64 |  |  | 1.62 |  |  |  | 2.94 |