Exhibit 12.1
PEABODY ENERGY CORPORATION
COMPUTATION OF RATIOS OF EARNINGS TO COMBINED FIXED CHARGES AND
PREFERENCE SECURITY DIVIDENDS
| Predecessor | Successor | |||||||||||||||||||||||||||
| Year Ended December 31, | January 1 through April 1, | April 2 through June 30, | ||||||||||||||||||||||||||
| Dollars in millions | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2017 | |||||||||||||||||||||
Loss (Income) from Continuing Operations Before Income Taxes | $ | (208.6 | ) | $ | (734.3 | ) | $ | (547.9 | ) | $ | (1,990.3 | ) | $ | (758.3 | ) | $ | 459.3 | $ | 106.1 | |||||||||
Interest Expense | 405.6 | 425.2 | 428.2 | 533.2 | 328.1 | 32.9 | 41.4 | |||||||||||||||||||||
Interest Portion of Rental Expense | 51.9 | 55.5 | 56.5 | 49.3 | 45.1 | 9.7 | 8.3 | |||||||||||||||||||||
Losses (Income) from Equity Affiliates | 61.2 | 83.4 | 107.6 | 292.4 | (16.2 | ) | (15.0 | ) | (15.7 | ) | ||||||||||||||||||
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Adjusted Earnings | $ | 310.1 | $ | (170.2 | ) | $ | 44.4 | $ | (1,115.4 | ) | $ | (401.3 | ) | $ | (431.7 | ) | $ | 140.1 | ||||||||||
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Interest Expense | $ | 405.6 | $ | 425.2 | $ | 428.2 | $ | 533.2 | $ | 328.1 | 32.9 | 41.4 | ||||||||||||||||
Interest Portion of Rental Expense | 51.9 | 55.5 | 56.5 | 49.3 | 45.1 | 9.7 | 8.3 | |||||||||||||||||||||
Preference Security Dividend(1) | — | — | — | — | — | — | 115.1 | |||||||||||||||||||||
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Adjusted Combined Fixed Charges and Preference Security Dividends | $ | 457.5 | $ | 480.7 | $ | 484.7 | $ | 582.5 | $ | 373.2 | $ | 42.6 | $ | 164.8 | ||||||||||||||
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Ratio of Earnings to Combined Fixed Charges and Preference Security Dividends | (2) | (2) | (2) | (2) | (2) | (2) | (2) | |||||||||||||||||||||
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| (1) | Reflects 8.5% dividend rate per annum, payable semiannually in kind as a dividend of additional shares of preferred stock in addition to deemed dividends related to the shares of preferred stock that were converted during the period. |
| (2) | Earnings were insufficient to cover fixed charges by approximately $147.4 million, $650.9 million, $440.3 million, $1,697.9 million and $774.5 million for the years ended December 31, 2012, 2013, 2014, 2015 and 2016, respectively, by approximately $474.3 million for the period of January 1 through April 1, 2017, and by approximately $24.7 million for the period of April 2 through June 30, 2017. |
