Exhibit 12.1
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| For the years ended December 31, |
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€m’s |
| 2016 |
| 2015 |
| 2014 |
| 2013 |
| 2012 |
|
Pre-tax income (loss) from continuing operations |
| (79 | ) | (77 | ) | (579 | ) | (360 | ) | (297 | ) |
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Add Fixed charges: |
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Interest expense (1) |
| 480 |
| 412 |
| 401 |
| 396 |
| 359 |
|
Exceptional financial expense |
| 165 |
| 13 |
| 171 |
| 125 |
| 12 |
|
Interest portion of rent expense |
| 13 |
| 11 |
| 11 |
| 11 |
| 12 |
|
Total adjusted income for payment of fixed charges |
| 579 |
| 359 |
| 4 |
| 172 |
| 86 |
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Fixed charges: |
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|
|
|
|
|
|
|
|
|
Interest expense (1) |
| 480 |
| 412 |
| 401 |
| 396 |
| 359 |
|
Exceptional financial expense |
| 165 |
| 13 |
| 171 |
| 125 |
| 12 |
|
Interest portion of rent expense |
| 13 |
| 11 |
| 11 |
| 11 |
| 12 |
|
Fixed charges: |
| 658 |
| 436 |
| 583 |
| 532 |
| 383 |
|
Ratio of earnings to fixed charges (2) |
| — |
| — |
| — |
| — |
| — |
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(1) Interest expense is inclusive of amortization on deferred finance costs
(2) The ratio coverage was less than 1:1 in each of the years as noted below. The registrant would have needed to generate additional earnings as noted below to achieve a coverage of 1:1 in each year, respectively.
For the years ended December 31, |
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2016 |
| 2015 |
| 2014 |
| 2013 |
| 2012 |
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|
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|
|
|
79 |
| 77 |
| 579 |
| 360 |
| 297 |
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