Exhibit 12.1
Kennametal Inc.
Statement of Computation of Ratios of Earnings to Fixed Charges
(in thousands, except ratios)
| For the year ended June 30, | ||||||||||||||||||||
| 2017 | 2016 | 2015 | 20014 | 2013 | ||||||||||||||||
Earnings: | ||||||||||||||||||||
Pre-tax income/(loss) from continuing operations before minority interest | $ | 81,875 | $ | (198,571 | ) | $ | (387,615 | ) | $ | 228,809 | $ | 266,609 | ||||||||
Fixed Charges | $ | 37,605 | $ | 37,280 | $ | 41,266 | $ | 43,084 | $ | 37,739 | ||||||||||
Total Earnings / (loss) | $ | 119,480 | $ | (161,291 | ) | $ | (346,349 | ) | $ | 271,893 | $ | 304,348 | ||||||||
Fixed Charges: | ||||||||||||||||||||
Interest Expense | $ | 28,842 | $ | 27,752 | $ | 31,466 | $ | 32,451 | $ | 27,472 | ||||||||||
Interest Implicit in rental expense (One Third of rental expense) | $ | 8,763 | $ | 9,528 | $ | 9,800 | $ | 10,633 | $ | 10,267 | ||||||||||
Total fixed charges | $ | 37,605 | $ | 37,280 | $ | 41,266 | $ | 43,084 | $ | 37,739 | ||||||||||
Ratio of Earnings to Fixed Charges | 3.2 | (1) | (2) | 6.3 | 8.1 | |||||||||||||||
| (1) | Earnings were insufficient to cover fixed charges by $198.6 million primarily due to loss on divestiture ofnon-core business and negative market impacts on results of operations, including $275.3 million inpre-taxnon-cash asset impairments of $108.5 million, loss of $131.5 million on divestiture ofnon-core business and other restructuring charges of $35.3 million. |
| (2) | Earnings were insufficient to cover fixed charges by $387.6 million primarily due to negative market impacts on results of operations, including $582.2 million inpre-taxnon-cash asset impairments of $541.7 million and other restructuring charges of $40.5 million. |
