- Track your favorite companies
- Receive email alerts for new filings
- Personalized dashboard of news and more
- Access all data and search results
Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
8th grade Avg
|
Exhibit No. 12
Armstrong World Industries, Inc. and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
(dollar amounts in millions)
|
| 2016 |
|
| 2015 |
|
| 2014 |
|
| 2013 |
|
| 2012 |
| |||||
Determination of Earnings |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings from continuing operations before income taxes |
| $ | 144.3 |
|
| $ | 80.1 |
|
| $ | 148.4 |
|
| $ | 129.4 |
|
| $ | 130.4 |
|
Equity earnings from joint venture |
|
| (73.1 | ) |
|
| (66.1 | ) |
|
| (65.1 | ) |
|
| (59.4 | ) |
|
| (55.9 | ) |
Earnings from continuing operations before income taxes and equity earnings |
| $ | 71.2 |
|
| $ | 14.0 |
|
| $ | 83.3 |
|
| $ | 70.0 |
|
| $ | 74.5 |
|
Add: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fixed charges |
|
| 56.0 |
|
|
| 52.2 |
|
|
| 53.8 |
|
|
| 76.5 |
|
|
| 61.2 |
|
Distributed income from equity affiliates (1) |
|
| - |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| - |
|
Amortization of capitalized interest |
|
| 0.1 |
|
|
| 0.2 |
|
|
| 0.2 |
|
|
| 0.1 |
|
|
| 0.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capitalized interest |
|
| (0.8 | ) |
|
| (1.4 | ) |
|
| (2.6 | ) |
|
| (2.8 | ) |
|
| (3.6 | ) |
Total earnings as defined |
| $ | 126.5 |
|
| $ | 65.0 |
|
| $ | 134.7 |
|
| $ | 143.8 |
|
| $ | 132.2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fixed charges |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense |
| $ | 49.8 |
|
| $ | 45.3 |
|
| $ | 46.0 |
|
| $ | 68.7 |
|
| $ | 53.6 |
|
Capitalized interest |
|
| 0.8 |
|
|
| 1.4 |
|
|
| 2.6 |
|
|
| 2.8 |
|
|
| 3.6 |
|
Estimate of interest included in rent expense (2) |
|
| 5.4 |
|
|
| 5.5 |
|
|
| 5.2 |
|
|
| 5.0 |
|
|
| 4.0 |
|
Total fixed charges |
| $ | 56.0 |
|
| $ | 52.2 |
|
| $ | 53.8 |
|
| $ | 76.5 |
|
| $ | 61.2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ratio of Earnings to Fixed Charges |
|
| 2.3 |
|
|
| 1.2 |
|
|
| 2.5 |
|
|
| 1.9 |
|
|
| 2.2 |
|
(1) | Includes only return on investment, not return of investment |
(2) | One-third of rental expense is considered to be representative of the interest factor in rental expense. |