EX-12.1 3 ex121-ratioofearningstofix.htm EXHIBIT 12.1 RATIO OF EARNINGS Exhibit


EXHIBIT 12.1
Century Aluminum Company
Ratio of Earnings to Fixed Charges
(In thousands, except ratios)

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three months ended March 31,
 
 
Year Ended December 31,
 
 
2012
 
2013
 
2014
 
2015
 
2016
 
2017
 
 


 
 
 
Earnings as Defined in Regulation S-K:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pretax income from continuing operations before adjustment for minority interests in consolidated subsidiaries
$
(29,323)

 
$
(39,844)

 
$
143,477

 
$
(41,122)

 
 
(250,865)

 
$
(15,918)

Add:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges
 
24,030

 
 
23,091

 
 
22,015

 
 
22,402

 
 
22,216

 
 
5,571

Distributed income of equity investees
 
6,622

 
 
—

 
 
—

 
 
1,866

 
 
907

 
 
78

Subtract:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest capitalized
 
(333)

 
 
(94)

 
 
(268)

 
 
(448)

 
 
—

 
 
—

Earnings   
$
996

 
$
(16,847)

 
$
165,224

 
$
(17,302)

 
 
(227,742)

 
$
(10,269

Fixed Charges as Defined in Regulation S-K:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expensed and capitalized
$
21,914

 
$
21,601

 
$
20,950

 
$
21,372

 
 
21,115

 
$
5,291

Amortized premiums, discounts and capitalized expenses related to indebtedness
 
2,116

 
 
1,490

 
 
1,065

 
 
1,030

 
 
1,101

 
 
280

Total Fixed Charges   
$
24,030

 
$
23,091

 
$
22,015

 
$
22,402

 
 
22,216

 
$
5,571

Ratio of Earnings to Fixed Charges   
 
0.04

 
 
-0.73

 
 
7.51

 
 
-0.77

 
 
-10.25

 
 
-1.84

Dollar amount of the deficiency
 
23,034

 
 
39,938

 
 
—

 
 
39,704

 
 
249,958

 
 
15,840

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.