Exhibit 12.1
EXHIBIT 12.1—STATEMENT REGARDING COMPUTATION OF FINANCIAL RATIOS
(in millions, except financial ratios, share and per share data)
2010 | 2009 | 2008 | 2007 | 2006 | ||||||||||||||||||
1. NET INCOME ATTRIBUTABLE TO INNOSPEC INC. AS A PERCENT OF SALES | ||||||||||||||||||||||
A | Net income attributable to Innospec Inc. | $ | 73.7 | $ | 6.4 | $ | 12.5 | $ | 29.5 | $ | 11.4 | |||||||||||
B | Net sales | $ | 683.2 | $ | 598.5 | $ | 640.5 | $ | 602.4 | $ | 532.1 | |||||||||||
A % of B | 10.8 | % | 1.1 | % | 2.0 | % | 4.9 | % | 2.1 | % | ||||||||||||
2. EFFECTIVE INCOME TAX RATE AS A PERCENT | ||||||||||||||||||||||
C | Income taxes | $ | (3.0 | ) | $ | 11.9 | $ | 6.3 | $ | 18.2 | $ | 20.4 | ||||||||||
D | Income before income taxes | $ | 70.7 | $ | 18.3 | $ | 18.9 | $ | 47.8 | $ | 31.9 | |||||||||||
C % of D | -4.2 | % | 65.0 | % | 33.3 | % | 38.1 | % | 63.9 | % | ||||||||||||
3. CURRENT RATIO | ||||||||||||||||||||||
E | Current assets | $ | 321.9 | $ | 282.9 | $ | 256.6 | $ | 256.1 | $ | 305.3 | |||||||||||
F | Current liabilities | $ | 158.9 | $ | 179.9 | $ | 188.1 | $ | 160.7 | $ | 142.9 | |||||||||||
Ratio of E to F | 2.0 | 1.6 | 1.4 | 1.6 | 2.1 | |||||||||||||||||
4. EARNINGS PER SHARE ATTRIBUTABLE TO INNOSPEC INC. | ||||||||||||||||||||||
G | Net income attributable to Innospec Inc. | $ | 73.7 | $ | 6.4 | $ | 12.5 | $ | 29.5 | $ | 11.4 | |||||||||||
H | Basic shares outstanding | 23,756 | 23,642 | 23,595 | 23,920 | 24,141 | ||||||||||||||||
I | Diluted shares outstanding | 24,814 | 24,714 | 24,391 | 24,838 | 25,339 | ||||||||||||||||
G/H | Basic earnings per share attributable to Innospec Inc. | $ | 3.10 | $ | 0.27 | $ | 0.53 | $ | 1.23 | $ | 0.47 | |||||||||||
G/I | Diluted earnings per share attributable to Innospec Inc. | $ | 2.97 | $ | 0.26 | $ | 0.51 | $ | 1.19 | $ | 0.45 | |||||||||||
Shares in thousands, earnings per share attributable to Innospec Inc. in dollars.