Koppers (KOP) 10-Q 2018 Q2 Quarterly report

Exhibit 12.1

KOPPERS HOLDINGS INC.

RATIO OF EARNINGS (LOSS) TO FIXED CHARGES

(Dollars in millions, except ratios)

	2013			2014			2015			2016			2017			Six Months Ended June 30, 2018
Earnings (loss):
Income (loss) from continuing operations    before taxes	$	77.0		$	(5.9	)	$	(80.1	)	$	38.5		$	60.3		$	40.1
Deduct: Equity earnings net of dividends		0.8			(1.6	)		(3.1	)		(1.0	)		0.0			0.0
Deduct: Pre-tax income of noncontrolling    interests		0.0			0.0			0.0			0.0			1.4			6.3
Add: Fixed charges		39.4			51.8			64.6			66.4			58.1			32.5
Earnings (loss) as defined	$	115.6		$	47.5		$	(12.4	)	$	105.9		$	117.0		$	66.3
Fixed charges:
Interest expensed	$	26.8		$	39.1		$	50.7		$	50.8		$	42.5		$	25.0
Other	0.4			1.3			0.0			0.0			0.0			0.0
Rents		39.4			36.7			44.7			50.3			50.4			24.2
Interest factor		31	%		31	%		31	%		31	%		31	%		31	%
Estimated interest component of rent		12.2			11.4			13.9			15.6			15.6			7.5
Total fixed charges	$	39.4		$	51.8		$	64.6		$	66.4		$	58.1		$	32.5
Ratio of earnings (loss) to fixed charges(1)		2.93			0.92			(0.19	)		1.59			2.01			2.04

(1) In 2014 and 2015, earnings did not cover fixed charges by $4.3 million and $77.0 million, respectively.