Exhibit 12.2
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
Computation of Ratios of Earnings to Fixed Charges
Exhibit 12.2
| Six Months ended June 30, | ||||||||
| 2016 | 2015 | |||||||
| (Dollars in millions, except ratios) | ||||||||
Earnings: | ||||||||
Income before income taxes and loss from equity method investments | $ | 16.9 | $ | (4.4 | ) | |||
Fixed charges | 31.4 | 30.0 | ||||||
Amortization of capitalized interest | 0.6 | 0.5 | ||||||
Less: | ||||||||
Capitalized interest | (2.6 | ) | (1.5 | ) | ||||
Non-controlling interest in pre-tax loss (income) loss of subsidiaries that have not incurred fixed charges | (22.3 | ) | (11.4 | ) | ||||
|
|
|
| |||||
Adjusted earnings | $ | 24.0 | $ | 13.2 | ||||
Fixed Charges: | ||||||||
Interest cost - affiliate | $ | — | $ | — | ||||
Interest cost | 30.1 | 28.6 | ||||||
Interest portion of rent expense | 1.3 | 1.4 | ||||||
|
|
|
| |||||
Total fixed charges | $ | 31.4 | $ | 30.0 | ||||
|
|
|
| |||||
Ratios of earnings to fixed charges: | ||||||||
Ratios of earnings to fixed charges | N/A | * | N/A | * | ||||
|
|
|
| |||||
Insufficiency of earnings to cover fixed charges | $ | 7.4 | $ | 16.8 | ||||
|
|
|
| |||||
| * | N/A means not applicable |