Exhibit 12.1
JOHN BEAN TECHNOLOGIES CORPORATION
CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES
(unaudited)
(in millions, except ratios)
Nine months ended September 30, | Year ended December 31, | |||||||||||||||||||||||||||
2016 | 2015 | 2015 | 2014 | 2013 | 2012 | 2011 | ||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||||||
Earnings before income taxes | $ | 62.1 | $ | 52.7 | $ | 82.2 | $ | 44.7 | $ | 47.8 | $ | 54.0 | $ | 46.8 | ||||||||||||||
Fixed charges (incl interest capitalized) | 10.5 | 8.5 | 11.1 | 10.8 | 11.2 | 10.4 | 10.7 | |||||||||||||||||||||
Amortization of previously capitalized interest | 0.2 | 0.2 | 0.3 | 0.3 | 0.3 | 0.2 | 0.2 | |||||||||||||||||||||
Less: Interest Capitalized | 0.4 | 0.5 | 0.6 | 0.4 | 0.5 | 0.3 | 0.3 | |||||||||||||||||||||
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Total earnings: | $ | 72.4 | $ | 60.9 | $ | 93.1 | $ | 55.5 | $ | 58.8 | $ | 64.3 | $ | 57.4 | ||||||||||||||
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Fixed charges: | ||||||||||||||||||||||||||||
Interest capitalized | $ | 0.4 | $ | 0.5 | $ | 0.6 | $ | 0.4 | $ | 0.5 | $ | 0.3 | $ | 0.3 | ||||||||||||||
Interest expensed | 7.2 | 5.4 | 7.0 | 6.9 | 6.9 | 6.8 | 6.5 | |||||||||||||||||||||
Amortized capital expenses related to indebtedness | 0.5 | 0.4 | 0.6 | 0.4 | 0.4 | 0.3 | 0.2 | |||||||||||||||||||||
Portion of rent expense representative of interest (1) | 2.3 | 2.2 | 3.0 | 3.2 | 3.5 | 3.0 | 3.6 | |||||||||||||||||||||
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Total fixed charges: | $ | 10.5 | $ | 8.5 | $ | 11.1 | $ | 10.8 | $ | 11.2 | $ | 10.4 | $ | 10.7 | ||||||||||||||
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Ratio of earnings to fixed charges | 6.9 | 7.2 | 8.3 | 5.1 | 5.2 | 6.2 | 5.4 | |||||||||||||||||||||
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(1) | Fixed charges include a reasonable estimation of the interest factor included in rental expense. |