Exhibit 12.1
KOPPERS HOLDINGS INC.
RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions, except ratios)
| 2009 | 2010 | 2011 | 2012 | 2013 | Six months ended June 30, 2014 | |||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Income (loss) from continuing operations before taxes | $ | 35.5 | $ | 73.8 | $ | 52.5 | $ | 100.6 | $ | 77.0 | $ | 0.3 | ||||||||||||
Deduct: Equity earnings net of dividends | (0.8 | ) | 0.0 | 0.2 | 0.8 | 0.8 | (0.4 | ) | ||||||||||||||||
Deduct: Pre-tax income of noncontrolling interests | 3.4 | 0.5 | 0.9 | 2.0 | 0.0 | 0.0 | ||||||||||||||||||
Add: Fixed charges | 71.6 | 40.3 | 40.8 | 41.6 | 39.4 | 21.2 | ||||||||||||||||||
Earnings as defined | $ | 104.5 | $ | 113.6 | $ | 92.2 | $ | 139.4 | $ | 115.6 | $ | 21.9 | ||||||||||||
Fixed charges: | ||||||||||||||||||||||||
Interest expensed | $ | 58.7 | $ | 27.1 | $ | 27.2 | $ | 27.9 | $ | 26.8 | $ | 13.4 | ||||||||||||
Other | 0.5 | 0.0 | 0.0 | 0.0 | 0.4 | 1.3 | ||||||||||||||||||
Rents | 41.5 | 42.5 | 43.8 | 44.3 | 39.4 | 20.9 | ||||||||||||||||||
Interest factor | 31 | % | 31 | % | 31 | % | 31 | % | 31 | % | 31 | % | ||||||||||||
Estimated interest component of rent | 12.9 | 13.2 | 13.6 | 13.7 | 12.2 | 6.5 | ||||||||||||||||||
Total fixed charges | $ | 72.1 | $ | 40.3 | $ | 40.8 | $ | 41.6 | $ | 39.4 | $ | 21.2 | ||||||||||||
Ratio of earnings to fixed charges | 1.45 | 2.82 | 2.26 | 3.35 | 2.93 | 1.03 | ||||||||||||||||||