EX-12.1 4 btu_20171231xex121.htm EXHIBIT 12.1
Exhibit 12.1
PEABODY ENERGY CORPORATION
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
(IN MILLIONS)

| Predecessor |  | Successor
|  |  | January 1 through April 1, 2017 |  | April 2 through December 31, 2017
| 2013 |  | 2014 |  | 2015 |  | 2016 |  |
(Loss) Income from Continuing Operations Before Income Taxes | $ | (734.3 | ) |  | $ | (547.9 | ) |  | $ | (1,990.3 | ) |  | $ | (758.3 | ) |  | $ | (459.3 | ) |  | $ | 552.1 |
Interest Expense | 425.2 |  |  | 428.2 |  |  | 533.2 |  |  | 328.1 |  |  | 32.9 |  |  | 140.6 |
Interest Portion of Rental Expense | 55.5 |  |  | 56.5 |  |  | 49.3 |  |  | 45.1 |  |  | 9.7 |  |  | 20.3 |
Loss (Income) from Equity Affiliates | 83.4 |  |  | 107.6 |  |  | 292.4 |  |  | (16.2 | ) |  | (15.0 | ) |  | (49.0 | )
Adjusted Earnings | $ | (170.2 | ) |  | $ | 44.4 |  |  | $ | (1,115.4 | ) |  | $ | (401.3 | ) |  | $ | (431.7 | ) |  | $ | 664.0 |
Interest Expense | $ | 425.2 |  |  | $ | 428.2 |  |  | $ | 533.2 |  |  | $ | 328.1 |  |  | $ | 32.9 |  |  | $ | 140.6 |
Interest Portion of Rental Expense | 55.5 |  |  | 56.5 |  |  | 49.3 |  |  | 45.1 |  |  | 9.7 |  |  | 20.3 |
Preference Security Dividend (1) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 179.5 |
Adjusted Fixed Charges | $ | 480.7 |  |  | $ | 484.7 |  |  | $ | 582.5 |  |  | $ | 373.2 |  |  | $ | 42.6 |  |  | $ | 340.4 |
Ratio of Earnings to Fixed Charges | (2) |  |  | (2) |  |  | (2) |  |  | (2) |  |  | (2) |  |  | 1.95 |

(1) | Reflects 8.5% dividend rate per annum, payable semiannually in kind as a dividend of additional shares of preferred stock in addition to deemed dividends related to the shares of preferred stock that were converted during the period.

(2) | Earnings were insufficient to cover fixed charges by approximately $147.4 million, $650.9 million, $440.3 million, $1,697.9 million, $774.5 million for the years ended December 31, 2012, 2013, 2014, 2015, and 2016, respectively, and by approximately $474.3 million the period of January 1 through April 1, 2017.