Exhibit 12.1
OUTFRONT MEDIA INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
For the Nine Months Ended September 30, | For the Years Ended December 31, | |||||||||||||||||||||||||||
(in millions, except ratios) | 2015 | 2014 | 2014 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||||
Income before benefit (provision) for income taxes and equity in earnings of investee companies | $ | 47.9 | $ | 74.8 | $ | 98.0 | $ | 237.6 | $ | 200.2 | $ | 193.2 | $ | 126.6 | ||||||||||||||
Add: | ||||||||||||||||||||||||||||
Fixed charges | 183.7 | 130.7 | 191.0 | 97.5 | 94.5 | 93.8 | 93.3 | |||||||||||||||||||||
Distributions from investee companies | 2.7 | 3.2 | 7.4 | 4.4 | 6.4 | 6.2 | 1.4 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||
Total earnings from continuing operations | $ | 234.3 | $ | 208.7 | $ | 296.4 | $ | 339.5 | $ | 301.1 | $ | 293.2 | $ | 221.3 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||
Fixed charges: | ||||||||||||||||||||||||||||
Interest expensed | $ | 81.3 | $ | 46.9 | $ | 73.1 | $ | 0.2 | $ | 0.1 | $ | 0.7 | $ | 0.3 | ||||||||||||||
Amortization of deferred financing costs and debt discount and premium | 4.4 | 10.7 | 12.1 | — | — | — | — | |||||||||||||||||||||
Estimated interest within rental expense | 98.0 | 73.1 | 105.8 | 97.3 | 94.4 | 93.1 | 93.0 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||
Total fixed charges | $ | 183.7 | $ | 130.7 | $ | 191.0 | $ | 97.5 | $ | 94.5 | $ | 93.8 | $ | 93.3 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||
Ratio of earnings to fixed charges | 1.3x | 1.6x | 1.6x | 3.5x | 3.2x | 3.1x | 2.4x | |||||||||||||||||||||