Exhibit 12.1
Celanese Corporation and Subsidiaries
Statement of Computation of Ratio of Earnings to Fixed Charges
Change in accounting policy regarding pension and other postretirement benefits
Effective January 1, 2013, we elected to change our policy for recognizing actuarial gains and losses and changes in the fair value of plan assets for our defined benefit pension plans and other postretirement benefit plans. We now immediately recognize in operating results net actuarial gains and losses and the change in fair value of plan assets annually in the fourth quarter of each fiscal year and whenever a plan is required to be remeasured. The remaining components of our net periodic benefit cost are recorded on a quarterly basis. Financial information for prior periods has been retrospectively adjusted.
|
| | | | | | | | | | | | | | |
| | Year Ended December 31, |
| | 2013 | | 2012 | | 2011 | | 2010 | | 2009 |
| | (In $ millions, except ratios) |
| Earnings: | | | | | | | | | |
| Earnings (loss) from continuing operations before tax | 1,609 |
| | 321 |
| | 467 |
| | 433 |
| | 105 |
|
| Subtract | | | | | | | | | |
| Equity in net earnings of affiliates | (180 | ) | | (242 | ) | | (192 | ) | | (168 | ) | | (99 | ) |
| Add | | | | | | | | | |
| Income distributions from equity investments | 141 |
| | 262 |
| | 205 |
| | 138 |
| | 78 |
|
| Amortization of capitalized interest | 3 |
| | 2 |
| | 2 |
| | 2 |
| | 2 |
|
| Total fixed charges | 234 |
| | 247 |
| | 283 |
| | 262 |
| | 268 |
|
| Total earnings as defined before fixed charges | 1,807 |
| | 590 |
| | 765 |
| | 667 |
| | 354 |
|
| Fixed charges: | | | | | | | | | |
| Interest expense | 172 |
| | 185 |
| | 221 |
| | 204 |
| | 207 |
|
| Capitalized interest | 9 |
| | 7 |
| | 4 |
| | 2 |
| | 2 |
|
| Estimated interest portion of rent expense | 53 |
| | 55 |
| | 58 |
| | 53 |
| | 49 |
|
| Cumulative preferred stock dividends | — |
| | — |
| | — |
| | 3 |
| | 10 |
|
| Guaranteed payment to minority shareholders | — |
| | — |
| | — |
| | — |
| | — |
|
| Total fixed charges | 234 |
| | 247 |
| | 283 |
| | 262 |
| | 268 |
|
| Ratio of earnings to fixed charges | 7.7x | | 2.4x | | 2.7x | | 2.5x | | 1.3x |
