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