Exhibit 12.1
Celanese Corporation and Subsidiaries
Statement of Computation of Ratio of Earnings to Fixed Charges
Year Ended December 31, | ||||||||||||||
2016 | 2015 | 2014 | 2013 | 2012 | ||||||||||
(In $ millions, except ratios) | ||||||||||||||
Earnings: | ||||||||||||||
Pre-tax income from continuing operations before adjustment for noncontrolling interest | 1,030 | 488 | 941 | 1,609 | 321 | |||||||||
Subtract | ||||||||||||||
Equity in net earnings of affiliates | (155 | ) | (181 | ) | (246 | ) | (180 | ) | (242 | ) | ||||
Add | ||||||||||||||
Net (earnings) loss attributable to non-controlling interests | (6 | ) | 19 | 4 | — | — | ||||||||
Income distributions from equity investments | 131 | 176 | 148 | 141 | 262 | |||||||||
Amortization of capitalized interest | 4 | 5 | 3 | 3 | 2 | |||||||||
Total fixed charges | 176 | 185 | 217 | 234 | 247 | |||||||||
Total earnings as defined before fixed charges | 1,180 | 692 | 1,067 | 1,807 | 590 | |||||||||
Fixed charges: | ||||||||||||||
Interest expense | 120 | 119 | 147 | 172 | 185 | |||||||||
Capitalized interest | 5 | 15 | 16 | 9 | 7 | |||||||||
Estimated interest portion of rent expense | 51 | 51 | 54 | 53 | 55 | |||||||||
Cumulative preferred stock dividends | — | — | — | — | — | |||||||||
Guaranteed payment to minority shareholders | — | — | — | — | — | |||||||||
Total fixed charges | 176 | 185 | 217 | 234 | 247 | |||||||||
Ratio of earnings to fixed charges | 6.7x | 3.7x | 4.9x | 7.7x | 2.4x |