Exhibit 12.1
Allegheny Technologies Incorporated
Computation of Ratio of Earnings to Fixed Charges
Computation of Ratio of Earnings to Fixed Charges
(Dollars in millions)
For the Years Ended December 31, | 2010 | 2009 | 2008 | 2007 | 2006 | |||||||||||||||
Income before income tax provision (benefit) and cumulative effect of change in accounting principle | $ | 125.7 | $ | 64.9 | $ | 867.7 | $ | 1,154.1 | $ | 880.7 | ||||||||||
(Income) loss recognized on less than fifty percent owned persons | (2.5 | ) | 18.6 | (4.6 | ) | (11.8 | ) | (16.4 | ) | |||||||||||
Noncontrolling interest in the income of subsidiary with fixed charges | (8.0 | ) | (6.3 | ) | (7.6 | ) | (6.8 | ) | (8.1 | ) | ||||||||||
$ | 115.2 | $ | 77.2 | $ | 855.5 | $ | 1,135.5 | $ | 856.2 | |||||||||||
Fixed Charges: | ||||||||||||||||||||
Interest expense | $ | 60.7 | $ | 19.3 | $ | 12.4 | $ | 30.0 | $ | 37.7 | ||||||||||
Portion of rents deemed to be interest | 7.0 | 7.1 | 7.0 | 6.4 | 6.8 | |||||||||||||||
Capitalized interest | 12.5 | 39.0 | 25.0 | 9.8 | 4.5 | |||||||||||||||
Debt extinguishment costs | — | 9.2 | — | — | — | |||||||||||||||
Amortization of debt expense | 3.1 | 2.1 | 0.8 | 0.8 | 0.7 | |||||||||||||||
Fixed Charges excluding capitalized interest | 83.3 | 76.7 | 45.2 | 47.0 | 49.7 | |||||||||||||||
Earnings adjustments: | ||||||||||||||||||||
Capitalized interest | (12.5 | ) | (39.0 | ) | (25.0 | ) | (9.8 | ) | (4.5 | ) | ||||||||||
Earnings, as adjusted | $ | 186.0 | $ | 114.9 | $ | 875.7 | $ | 1,172.7 | $ | 901.4 | ||||||||||
Ratio of earnings to fixed charges | 2.2 | 1.5 | 19.4 | 25.0 | 18.1 | |||||||||||||||
91