EX-12.1 5 exhibit121-ratioofearningt.htm EXHIBIT 12.1 - RATIO OF EARNINGS TO FIXED CHARGES Exhibit


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.