EX-12 6 ex-12q12017.htm EXHIBIT 12
Exhibit 12
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
THE ANDERSONS, INC.

| Three months ended March 31,
(in thousands, except for ratio) | 2017 |  | 2016
Computation of earnings |  |  |
Pretax income (a) | $ | (3,692 | ) |  | $ | (15,931 | )
Add: |  |  |
Interest expense on indebtedness | 6,100 |  |  | 7,051 |
Amortization of debt issue costs | 292 |  |  | 272 |
Interest portion of rent expense (b) | 2,537 |  |  | 2,434 |
Distributed income of equity investees | — |  |  | 67 |
Earnings | $ | 5,237 |  |  | $ | (6,107 | )
Computation of fixed charges |  |  |
Interest expense on indebtedness | $ | 6,100 |  |  | $ | 7,051 |
Amortization of debt issue costs | 292 |  |  | 272 |
Interest portion of rent expense (b) | 2,537 |  |  | 2,434 |
Fixed charges | $ | 8,929 |  |  | $ | 9,757 |
Ratio of earnings to fixed charges | 0.59 |  | (0.63 | )

(a) Pretax income as presented is income from continuing operations before adjustment for income or loss from equity investees.
(b) The portion of rent expense on operating leases included in the calculation of the fixed charges ratio above is a reasonable approximation of the interest factor on those agreements.