EXHIBIT 12.1
Jarden Corporation
Ratio of Earnings to Fixed Charges Calculation (A)
For the Years Ended December 31, | ||||||||||||||||||||
(in millions) | 2015 | 2014 | 2013 | 2012 | 2011 | |||||||||||||||
Earnings Before Fixed Charges: | ||||||||||||||||||||
Net income | $ | 146.5 | $ | 242.5 | $ | 203.9 | $ | 243.9 | $ | 204.7 | ||||||||||
Add: Income tax provision | 135.1 | 130.3 | 147.7 | 147.6 | 125.7 | |||||||||||||||
Less/add: Equity (income) loss of minority-owned companies | (1.9 | ) | 2.6 | (0.3 | ) | (0.9 | ) | 0.5 | ||||||||||||
Add: Amortization of capitalized interest | 0.1 | — | — | — | 0.2 | |||||||||||||||
Add: Fixed charges | 276.2 | 260.6 | 236.6 | 219.6 | 216.2 | |||||||||||||||
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Total earnings available for fixed charges | $ | 556.0 | $ | 636.0 | $ | 587.9 | $ | 610.2 | 547.3 | |||||||||||
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Fixed Charges: | ||||||||||||||||||||
Net interest expense | $ | 226.1 | $ | 210.3 | $ | 195.4 | $ | 185.3 | 179.7 | |||||||||||
Interest component of rental expense | 50.1 | 50.0 | 39.9 | 34.3 | 36.5 | |||||||||||||||
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Total fixed charges before capitalized interest | 276.2 | 260.3 | 235.3 | 219.6 | 216.2 | |||||||||||||||
Capitalized interest | — | 0.3 | 1.3 | — | — | |||||||||||||||
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Total fixed charges | $ | 276.2 | $ | 260.6 | $ | 236.6 | $ | 219.6 | 216.2 | |||||||||||
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Ratio of Earnings to Fixed Charges | 2.0 | 2.4 | 2.5 | 2.8 | 2.5 |
(A) – | This Exhibit is provided as required by Item 503(d) of Regulation S-K solely because the Company has outstanding debt securities registered under the Securities Act of 1933, as amended. Neither the Company’s registered debt securities nor its senior secured credit facility contains a ratio of earnings-to-fixed-charges covenant. |