Exhibit 12.1
Park Ohio Industries Inc.
Computation of Ratio of Earnings to Fixed Charges
(In Millions, Except Ratio Data)
| Year | ended | Three Months Ended March 31, | ||||||||||||||||||||||||||
| 2016 | 2015 | 2014 | 2013 | 2012 | 2017 | 2016 | ||||||||||||||||||||||
Earnings from continuing operations before Income Taxes | $ | 41.9 | $ | 70.7 | $ | 72.8 | $ | 61.0 | $ | 55.9 | $ | 14.8 | $ | 4.3 | ||||||||||||||
Less Capitalized Interest | — | — | — | — | — | — | — | |||||||||||||||||||||
Less earnings attributable to noncontrolling interest | (0.5 | ) | (0.6 | ) | (1.3 | ) | (0.5 | ) | — | (0.3 | ) | — | ||||||||||||||||
Fixed Charges | 34.3 | 34.4 | 32.2 | 31.7 | 31.2 | 9.0 | 8.7 | |||||||||||||||||||||
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Earnings available for Fixed Charges | $ | 75.7 | $ | 104.5 | $ | 103.7 | $ | 92.2 | $ | 87.1 | $ | 23.5 | $ | 13.0 | ||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||||||
Interest Component of Rent Expense(2) | 6.1 | 6.5 | 6.1 | 5.8 | 5.2 | 1.6 | 1.6 | |||||||||||||||||||||
Interest Expense | 28.2 | 27.9 | 26.1 | 25.9 | 26.0 | 7.4 | 7.1 | |||||||||||||||||||||
Interest Capitalized | — | — | — | — | — | |||||||||||||||||||||||
Amortization of Deferred Financing Costs(1) | — | — | — | — | — | |||||||||||||||||||||||
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Total Fixed Charges | $ | 34.3 | $ | 34.4 | $ | 32.2 | $ | 31.7 | $ | 31.2 | $ | 9.0 | $ | 8.7 | ||||||||||||||
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Ratio of Earnings to Fixed Charges | 2.2 | 3.0 | 3.2 | 2.9 | 2.8 | 2.6 | 1.5 | |||||||||||||||||||||
| (1) | Included in Interest Expense |
| (2) | Interest component of rent expense is considered a reasonable approximation of the interest factor |