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S-3ASR Filing
Watts Water (WTS) S-3ASRAutomatic shelf registration
Filed: 3 Apr 18, 12:00am
Ratios of Earnings (Loss) to Fixed Charges
(in millions, except ratios)
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| Year Ended December 31, |
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| 2017 |
| 2016 |
| 2015 |
| 2014 |
| 2013 |
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Earnings: |
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Income (loss) from continuing operations before income taxes |
| $ | 143.1 |
| $ | 127.8 |
| $ | (111.0 | ) | $ | 83.1 |
| $ | 87.8 |
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Interest Expense |
| 19.1 |
| 22.6 |
| 24.3 |
| 19.9 |
| 21.5 |
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Portion of rent representative of an interest factor (a) |
| 4.6 |
| 4.2 |
| 4.4 |
| 4.4 |
| 4.5 |
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Adjusted income (loss) before income taxes |
| $ | 166.8 |
| $ | 154.6 |
| $ | (82.3 | ) | $ | 107.4 |
| $ | 113.8 |
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Fixed Charges |
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Interest Expense |
| $ | 19.1 |
| $ | 22.6 |
| $ | 24.3 |
| $ | 19.9 |
| $ | 21.5 |
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Portion of rent expense representative of an interest factor (a) |
| 4.6 |
| 4.2 |
| 4.4 |
| 4.4 |
| 4.5 |
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Total Fixed Charges |
| $ | 23.7 |
| $ | 26.8 |
| $ | 28.7 |
| $ | 24.3 |
| $ | 26.0 |
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Ratio of earnings (loss) to fixed charges |
| 7.0 |
| 5.8 |
| (2.9 | ) | 4.4 |
| 4.4 |
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(a) One-third of net rent expense is the portion deemed representative of the interest factor
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