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Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
H.S. freshman Avg
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Exhibit 12.1
Domtar Corporation
Computation of ratio of earnings to fixed charges
(In millions of dollars, unless otherwise noted)
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| Year ended December 31, |
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| Year ended December 31, |
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| Year ended December 31, |
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| Year ended December 31, |
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| Year ended December 31, |
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| 2011 |
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| 2012 |
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| 2013 |
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| 2014 |
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| 2015 |
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| $ |
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| $ |
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| $ |
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| $ |
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| $ |
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Available earnings: |
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Earnings before income taxes and equity earnings |
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| 505 |
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| 236 |
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| 72 |
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| 261 |
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| 156 |
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Add fixed charges: |
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Interest expense incurred |
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| 76 |
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| 75 |
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| 83 |
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| 99 |
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| 87 |
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Amortization of debt expense and discount |
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| 7 |
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| 8 |
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| 4 |
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| 4 |
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| 6 |
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Interest portion of rental expense (1) |
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| 11 |
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| 11 |
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| 11 |
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| 11 |
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| 9 |
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Total earnings as defined |
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| 599 |
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| 330 |
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| 170 |
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| 375 |
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| 258 |
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Fixed charges: |
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Interest expense incurred |
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| 76 |
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| 75 |
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| 83 |
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| 99 |
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| 87 |
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Amortization of debt expense and discount |
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| 7 |
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| 8 |
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| 4 |
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| 4 |
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| 6 |
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Interest portion of rental expense (1) |
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| 11 |
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| 11 |
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| 11 |
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| 11 |
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| 9 |
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Total fixed charges |
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| 94 |
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| 94 |
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| 98 |
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| 114 |
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| 102 |
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Ratio of earnings to fixed charges |
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| 6.4 |
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| 3.5 |
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| 1.7 |
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| 3.3 |
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| 2.5 |
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(1) | Interest portion of rental expense is calculated based on the proportion deemed representation of the interest component (i.e. 1/3 of rental expense). |