Koppers (KOP) 10-Q2010 Q1 Quarterly report

Filed: 10 May 10, 12:00am

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Exhibit 12.1

KOPPERS HOLDINGS INC.

RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in millions, except ratios)


	2005			2006			2007			2008			2009			Three months ended March 31, 2010
Earnings:
Income from continuing operations before taxes	$	18.2		$	18.6		$	79.5		$	90.0		$	35.5		$	11.6
Deduct: Equity earnings net of dividends		0.1			(0.3	)		(0.2	)		(0.6	)		(0.8	)		—
Deduct: Pre-tax income of noncontrolling interests		2.7			1.9			3.1			0.8			3.4			0.2
Add: Fixed charges		59.7			69.4			55.5			53.5			71.6			10.2

Earnings as defined	$	75.1		$	86.4		$	132.1		$	143.3		$	104.5		$	21.6

Fixed charges:
Interest expensed	$	51.7		$	61.3		$	45.9		$	41.4		$	58.7		$	6.9
Interest capitalized		—			0.2			0.3			—			—			—
Other		—			—			—			0.4			0.5			—

Rents		25.7			26.1			31.1			39.0			41.5			10.8
Interest factor		31	%		31	%		31	%		31	%		31	%		31	%

Estimated interest component of rent		8.0			8.1			9.6			12.1			12.9			3.3

Total fixed charges	$	59.7		$	69.6		$	55.8		$	53.9		$	72.1		$	10.2


Ratio of earnings to fixed charges		1.26			1.24			2.37			2.66			1.45			2.11

Preference dividends	$	29.0		$	—		$	—		$	—		$	—		$	—

Ratio of pre-tax income to net income		1.72			—			—			—			—			—


Preferred dividend factor	$	49.9		$	—		$	—		$	—		$	—		$	—


Ratio of earnings to combined fixed charges and preference dividends(1)		—			1.24			2.37			2.66			1.45			2.11

(1)	Earnings were insufficient to cover combined fixed charges and preference dividends by and $34.5 million in 2005.

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