Exhibit 12.1
Allegion plc
RATIO OF EARNINGS TO FIXED CHARGES
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Nine Months Ended September 30 | | Year Ended December 31, |
| | 2016 | | 2015 | | 2015 | | 2014 | | 2013 | | 2012 | | 2011 |
| Earnings from continuing operations | | | | | | | | | | | | | |
| before income taxes | $ | 208.6 |
| | $ | 133.5 |
| | $ | 209.5 |
| | 267.4 |
| | $ | 223.4 |
| | $ | 366.7 |
| | $ | 362.2 |
|
| Fixed charges | 56.5 |
| | 44.5 |
| | 63.6 |
| | 60.1 |
| | 22.0 |
| | 13.3 |
| | 9.0 |
|
| Total earnings | $ | 265.1 |
| | $ | 178.0 |
| | $ | 273.1 |
| | $ | 327.5 |
| | $ | 245.4 |
| | $ | 380.0 |
| | $ | 371.2 |
|
| Fixed charges: | | | | | | | | | | | | | |
| Interest expense* | $ | 48.4 |
| | $ | 36.6 |
| | $ | 52.9 |
| | $ | 49.3 |
| | $ | 10.2 |
| | $ | 1.5 |
| | $ | 1.4 |
|
| Rentals (one-third of rentals) | 8.1 |
| | 7.9 |
| | 10.7 |
| | 10.8 |
| | 11.8 |
| | 11.8 |
| | 7.6 |
|
| Total fixed charges | $ | 56.5 |
| | $ | 44.5 |
| | $ | 63.6 |
| | $ | 60.1 |
| | $ | 22.0 |
| | $ | 13.3 |
| | $ | 9.0 |
|
| Ratio of earnings to fixed charges | 4.7 |
| | 4.0 |
| | 4.3 |
| | 5.4 |
| | 11.2 |
| | 28.6 |
| | 41.2 |
|
* Includes interest expense on all third-party indebtedness, and excludes interest related to unrecognized tax benefits, which is reported as income tax expense.
The ratio of earnings to fixed charges was computed by dividing earnings by fixed charges for the periods indicated where earnings consists of (1) earnings from continuing operations before income taxes plus (2) fixed charges. Fixed charges consist of (a) interest on all indebtedness, (b) amortization of premiums, discounts and capitalized expenses related to indebtedness and (c) an interest component representing the estimated portion of rental expense that management believes is attributable to interest.
