Exhibit 12.2
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
Computation of Ratios of Earnings to Fixed Charges
Exhibit 12.2
| Nine Months ended September 30, | ||||||||
| 2016 | 2015 | |||||||
| (Dollars in millions, except ratios) | ||||||||
Earnings: | ||||||||
Income before income taxes and loss from equity method investments | $ | 33.9 | $ | 4.1 | ||||
Fixed charges | 46.7 | 46.4 | ||||||
Amortization of capitalized interest | 0.9 | 0.8 | ||||||
Less: | ||||||||
Capitalized interest | (4.1 | ) | (2.6 | ) | ||||
Non-controlling interest in pre-tax loss (income) loss of subsidiaries that have not incurred fixed charges | (30.6 | ) | (18.4 | ) | ||||
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Adjusted earnings | $ | 46.8 | $ | 30.3 | ||||
Fixed Charges: | ||||||||
Interest cost—affiliate | $ | — | $ | — | ||||
Interest cost | 44.6 | 44.3 | ||||||
Interest portion of rent expense | 2.1 | 2.1 | ||||||
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Total fixed charges | $ | 46.7 | $ | 46.4 | ||||
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Ratios of earnings to fixed charges: | ||||||||
Ratios of earnings to fixed charges | 1.0 | N/A | * | |||||
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Insufficiency of earnings to cover fixed charges | N/A | * | $ | 16.1 | ||||
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| * | N/A means not applicable |
