Exhibit 12.1
HORIZON GLOBAL CORPORATION
Calculation of Ratio of Earnings to Fixed Charges
(Amounts in Thousands, Except Ratios)
| Nine Months Ended September 30, | Year Ended December 31, | |||||||||||||||
| 2016 | 2015 | 2014 | 2013 | |||||||||||||
Earnings | ||||||||||||||||
Income from continuing operations before income taxes | $ | 10,790 | $ | 7,020 | $ | 20,590 | $ | 6,070 | ||||||||
Adjustments: | ||||||||||||||||
Interest on indebtedness | 11,210 | 7,980 | 720 | 820 | ||||||||||||
Amortization of deferred loan costs | 1,390 | 830 | — | — | ||||||||||||
Portion of rents representative of interest factor(a) | 3,942 | 5,256 | 5,044 | 5,044 | ||||||||||||
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Income as adjusted | $ | 27,332 | $ | 21,086 | $ | 26,354 | $ | 11,934 | ||||||||
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Fixed Charges | ||||||||||||||||
Interest on indebtedness | $ | 11,210 | $ | 7,980 | $ | 720 | $ | 820 | ||||||||
Amortization of deferred loan costs | 1,390 | 830 | — | — | ||||||||||||
Portion of rents representative of interest factor(a) | 3,942 | 5,256 | 5,044 | 5,044 | ||||||||||||
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Fixed charges | $ | 16,542 | $ | 14,066 | $ | 5,764 | $ | 5,864 | ||||||||
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Ratio of Earnings to Fixed Charges | 1.65 | 1.50 | 4.57 | 2.04 | ||||||||||||
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| (a) | Portion of rents representative of the interest factor consists of one-third of rental expense for operating leases. |
