Compass Diversified (CODI) S-3ASR Automatic shelf registration

Exhibit 12.1

Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Distributions

The following table sets forth our ratio of earnings to combined fixed charges and preferred share dividends for each of the periods indicated:

	Nine Months
	Ended September 30,		Fiscal Years Ended December 31,
	2016		2015		2014		2013		2012			2011
	(in thousands, except ratio computation)
Earnings:
Income (loss) from continuing operations	$	51,947	$	8,991	$	270,077	$	71,052	$	(15,745	)	$	84,794
Interest	23,204		25,924		27,060		19,378		25,001			12,587
Earnings available for fixed charges	$	75,151	$	34,915	$	297,137	$	90,430	$	9,256		$	97,381
Fixed charges:
Interest	$	23,204	$	25,924	$	27,060	$	19,378	$	25,001		$	12,587
Ratio of earnings to combined fixed charges and preferred share distributions (1)	3.2		1.3		11.0		4.7		0.4			7.7

(1) The ratio of earnings to fixed charges was below one-to-one for the year ended December 31, 2012 as a result of discontinued operations. The earnings available for fixed charges was $15.7 million less than the total of fixed charges.