Thompson Creek Metals (TCPTF) 10-K 2015 FY Annual report

Exhibit 12.1

THOMPSON CREEK METALS COMPANY INC. AND SUBSIDIARIES COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(amounts in millions except ratio)
	Years Ended December 31,
	2015				2014				2013				2012				2011
Earnings
Add:
(Loss) income before income and mining taxes	$	(222.4	)		$	(145.9	)		$	(278.4	)		$	(657.4	)		$	303.3
Fixed Charges	89.0				96.4				99.3				65.0				22.0
Deduct:
Capitalized Interest	1.6				3.9				70.7				49.0			(1)	15.9
Total Earnings per SEC Item 503 of Reg S-K	$	(135.0	)		$	(53.4	)		$	(249.8	)		$	(641.4	)		$	309.4
Fixed Charges:
Interest Expense	87.3				92.3				$	24.1			$	12.8			$	5.2
Capitalized interest and amortization of debt discount and expenses	1.7				4.1				75.2				52.2				16.8
Total Fixed Charges	$	89.0			$	96.4			$	99.3			$	65.0			$	22.0
Ratio of Earnings to Fixed Charges	N/A			(2)	N/A			(3)	N/A			(4)	N/A			(5)	14.1
N/A - Represents a coverage ratio of less than 1.
(1) - During 2012, the Company incurred pre-tax impairment charges of $530.5 million related to the partial write down of the Company's share of the property, plant, equipment and development assets at its Endako Mine. Of this $530.5 million write down, $6.4 million related to capitalized interest, of which $1.1 million was capitalized during 2012. The amount presented ($49.0 million) does not reflect the effect of the impairments.
(2) - For 2015, earnings were insufficient to cover fixed charges by $135.0 million.
(3) - For 2014, earnings were insufficient to cover fixed charges by $53.4 million. Earnings for 2014 included a charge of $104.8 million related to the write down of the property, plant and equipment assets and and materials and supplies at TC Mine and Endako Mine and exploration properties.
(4) - For 2013, earnings were insufficient to cover fixed charges by $249.8 million. Earnings for 2013 included a charge of $194.9 million related to the partial write down of the property, plant and equipment assets and and materials and supplies at TC Mine and Endako Mine.
(5) - For 2012, earnings were insufficient to cover fixed charges by $641.4 million. Earnings for 2012 included a charge of $530.5 million related to the partial write down of the Company's share of the property, plant, equipment and development assets at its Endako Mine and a $47.0 million charge related to the write down of goodwill.