Exhibit 12.1
THE CHEMOURS COMPANY
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions)
| 2015 | 2014 | 2013 | 2012 | 2011 | ||||||||||||||||
| Income from continuing operations before income taxes | $ | (188 | ) | $ | 550 | $ | 576 | $ | 1,485 | $ | 1,907 | |||||||||
| Adjustment for companies accounted for by the equity method | – | 1 | (1 | ) | 6 | (15 | ) | |||||||||||||
| Less: Capitalized interest(1) | (21 | ) | – | – | – | – | ||||||||||||||
| Add: Amortization of capitalized interest(1) | 1 | – | – | – | – | |||||||||||||||
| (208 | ) | 551 | 575 | 1,491 | 1,892 | |||||||||||||||
| Fixed charges: | ||||||||||||||||||||
| Interest and debt expense | 132 | – | – | – | – | |||||||||||||||
| Capitalized interest(1) | 21 | – | – | – | – | |||||||||||||||
| Rental expense representative of interest factor | 4 | 3 | 2 | 2 | 1 | |||||||||||||||
| 157 | 3 | 2 | 2 | 1 | ||||||||||||||||
| Total adjusted earnings available for payment of fixed charges | $ | (51 | ) | $ | 554 | $ | 577 | $ | 1,493 | $ | 1,893 | |||||||||
| Number of times fixed charges earned | (a | ) | 185 | 289 | 747 | 1,893 | ||||||||||||||
| (a) | Due to net losses in the year ended December 31, 2015, the ratio of earnings to fixed charges was less than 1. Our earnings were insufficient to cover fixed charges requirements by $208 million. |
| (1) | Chemours did not incur interest expense prior to May 12, 2015. As such, no capitalized interest and related amortization were recorded related to Chemours indebtedness in the periods prior to May 12, 2015. |