Exhibit 12
GrafTech International Ltd.
Computation of Ratio of Earnings to Fixed Charges
(dollars in thousands, except ratios)
Three Months Ended March 31, | Year Ended December 31, | |||||||||||||||||||||
2013 | 2012 | 2011 | 2010 | 2009 | 2008 | |||||||||||||||||
Earnings: | ||||||||||||||||||||||
Income before income taxes | $6,250 | $ | 134,487 | $ | 143,291 | $ | 173,565 | $ | 38,410 | $ | 235,497 | |||||||||||
Loss/(Gain) from equity investees | – | – | – | (14,500 | ) | 55,488 | 36,256 | |||||||||||||||
Fixed Charges | 9,242 | 24,314 | 19,107 | 5,943 | 6,442 | 20,050 | ||||||||||||||||
Total of Earnings plus Fixed Charges | 15,492 | 158,801 | 162,398 | 165,008 | 100,340 | 291,803 | ||||||||||||||||
Fixed Charges: | ||||||||||||||||||||||
Interest expense | 9,008 | 23,247 | 18,307 | 5,076 | 5,609 | 19,350 | ||||||||||||||||
Estimated interest portion of rental expense | 234 | 1,067 | 800 | 867 | 833 | 700 | ||||||||||||||||
Total fixed charges | 9,242 | 24,314 | 19,107 | 5,943 | 6,442 | 20,050 | ||||||||||||||||
Ratio of earnings to fixed charges | 1.7 | 6.5 | 8.5 | 27.8 | 15.6 | 14.6 | ||||||||||||||||