EXHIBIT 12.1
ATLANTICA YIELD PLC
EARNINGS TO FIXED CHARGES RATIO
(amounts in thousands of U.S. dollars)
Six Months Ended June 30, | Year Ended December 31, | |||||||||||||||||||||||
2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |||||||||||||||||||
Earnings | ||||||||||||||||||||||||
Pre-tax income from continuing operations before adjustment for income or loss from equity investees | 101.3 | 9.6 | (3.3 | ) | (182.2 | ) | (24.1 | ) | (13.6 | ) | ||||||||||||||
Add: | ||||||||||||||||||||||||
Fixed charges | 206.1 | 466.1 | 410.4 | 337.5 | 238.3 | 200.8 | ||||||||||||||||||
Amortization of capitalized interest | 12.3 | 24.6 | 24.6 | 20.4 | 12.8 | 9.5 | ||||||||||||||||||
Distributed income of equity investees | ‑ | 3.0 | 5.0 | 4.4 | ||||||||||||||||||||
Less: | ||||||||||||||||||||||||
Interest capitalized | ‑ | ‑ | ‑ | (1.9 | ) | (28.0 | ) | (77.0 | ) | |||||||||||||||
Earnings-pretax with applicable adjustments | 319.7 | 503.3 | 436.7 | 178.2 | 199.0 | 119.7 | ||||||||||||||||||
Fixed Charges | ||||||||||||||||||||||||
Interest expensed and capitalized | 206.1 | 466.1 | 410.4 | 337.5 | 238.3 | 200.8 | ||||||||||||||||||
Total fixed charges | 206.1 | 466.1 | 410.4 | 337.5 | 238.3 | 200.8 | ||||||||||||||||||
Earnings to fixed charges ratio | 1.6 | 1.1 | 1.1 | 0.5 | 0.8 | 0.6 | ||||||||||||||||||
Deficit | ‑ | ‑ | ‑ | 159.3 | 39.3 | 81.1 |
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