EX-12.1 5 exhibit121-ratioofearningt.htm EXHIBIT 12.1 - RATIO OF EARNINGS TO FIXED CHARGES
EXHIBIT 12.1
Century Aluminum Company
Ratio of Earnings to Fixed Charges

|  | Year Ended December 31,
| 2011 |  | 2012 |  | 2013 |  | 2014 |  | 2015
|  | (In thousands, except ratios)
Earnings as Defined in Regulation S-K: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pretax income from continuing operations before adjustment for minority interests in consolidated subsidiaries | $ | 22,239 |  |  | $ | (29,323) |  |  | $ | (39,844) |  |  | $ | 143,477 |  |  | $ | (41,122) |
Add: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed charges |  | 23,699 |  |  |  | 24,030 |  |  |  | 23,091 |  |  |  | 22,015 |  |  |  | 22,402 |
Distributed income of equity investees |  | 3,056 |  |  |  | 6,622 |  |  |  | — |  |  |  | — |  |  |  | 1,866 |
Subtract: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest capitalized |  | (531) |  |  |  | (333) |  |  |  | (94) |  |  |  | (268) |  |  |  | (448) |
Earnings | $ | 48,463 |  |  | $ | 996 |  |  | $ | (16,847) |  |  | $ | 165,224 |  |  | $ | (17,302) |
Fixed Charges as Defined in Regulation S-K: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expensed and capitalized | $ | 21,599 |  |  | $ | 21,914 |  |  | $ | 21,601 |  |  | $ | 20,950 |  |  | $ | 21,372 |
Amortized premiums, discounts and capitalized expenses related to indebtedness |  | 2,100 |  |  |  | 2,116 |  |  |  | 1,490 |  |  |  | 1,065 |  |  |  | 1,030 |
Total Fixed Charges | $ | 23,699 |  |  | $ | 24,030 |  |  | $ | 23,091 |  |  | $ | 22,015 |  |  | $ | 22,402 |
Ratio of Earnings to Fixed Charges |  | 2.04 |  |  |  | 0.04 |  |  |  | -0.73 |  |  |  | 7.51 |  |  |  | -0.77 |
Dollar amount of the deficiency |  | — |  |  |  | 23,034 |  |  |  | 39,938 |  |  |  | — |  |  |  | 39,704 |

During the period presented, we have not paid any dividends on preferred equity securities. Therefore, the ratio of earnings to combined fixed charges and preferred dividend requirements is the same as the ratio of earnings to fixed charges for the periods presented.