EX-12.1 4 hrg-022315xsx4exhibit121.htm EXHIBIT 12.1 HRG-02.23.15-S-4 Exhibit 12.1


EXHIBIT 12.1
HARBINGER GROUP INC. AND SUBSIDIARIES
Computation of Ratio of Earnings to Fixed Charges
 
 
Year ended September 30,
 
Three Months Ended December 31,
(in millions, except ratios)
 
2010
 
2011
 
2012
 
2013
 
2014
 
2014
Income (loss) from continuing operations before income taxes
 
$
(132.3
)
 
$
57.9

 
$
25.4

 
$
118.3

 
$
213.2

 
$
(89.6
)
Add back fixed charges
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense
 
277.0

 
249.3

 
251.0

 
511.9

 
321.9

 
80.6

Estimated interest within rental expense
 
10.1

 
13.9

 
12.3

 
17.1

 
15.6

 
4.1

Total fixed charges
 
$
287.1

 
$
263.2

 
$
263.3

 
$
529.0

 
$
337.5

 
$
84.7

Earnings (loss) before fixed charges
 
154.8

 
321.1

 
288.7

 
647.3

 
550.7

 
(4.9
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges as above
 
287.1

 
263.2

 
263.3

 
529.0

 
337.5

 
84.7

 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
 
(a)
 
1.2
 
1.1
 
1.2
 
1.6
 
(a)
 
 
 
 
 
 
 
 
 
 
 
 
 
Deficiency of (loss) earnings to fixed charges (a)
 
$
(132.3
)
 
 
 
 
 
 
 
 
 
$
(89.6
)
 
 
 
 
 
 
 
 
 
 
 
 
 
(a) Due to losses for the year ended September 30, 2010 and three month period ended December 31, 2014, the coverage ratio was less than 1:1. We would have needed to generate additional earnings of $132.3 million and $89.6 million, respectively, in each of these periods in order to achieve a ratio of 1:1.