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Content analysis
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- 10-K Annual report
- 10.13 Summary of Director Compensation
- 10.14 Form of Stock Option Agreement
- 10.15 Form of Restricted Stock Agreement
- 11.1 Statements Re: Computation of Pro Forma Earnings
- 12.1 Statement of Computation of Ratio of Earnings to Fixed Charges
- 21.1 Significant Subsidiaries of the Company
- 23.1 Consent of Pricewaterhousecoopers
- 31.1 Certification of CEO
- 31.2 Certification of CFO
- 32.1 Certification of CEO
- 32.2 Certification of CFO
- 99.1 Five-year Summary
Exhibit 12.1
ALBEMARLE CORPORATION
COMPUTATION OF EARNINGS TO FIXED CHARGES
(In Thousands Except for Ratios)
Year Ended December 31, | ||||||||||||||||||||
2004 | 2003 | 2002 | 2001 | 2000 | ||||||||||||||||
Earnings | ||||||||||||||||||||
Pre-tax income from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees | $ | 72,538 | $ | 91,443 | $ | 104,501 | $ | 97,841 | $ | 146,162 | ||||||||||
Fixed Charges | ||||||||||||||||||||
Interest expense (before capitalized interest) | 17,750 | 5,530 | 5,395 | 6,309 | 7,190 | |||||||||||||||
Portion (1/3) of rents representing interest factor | 6,445 | 5,416 | 4,866 | 4,513 | 4,426 | |||||||||||||||
Total fixed charges | 24,195 | 10,946 | 10,261 | 10,822 | 11,616 | |||||||||||||||
Amortization of capitalized interest | 1,091 | 1,287 | 1,419 | 1,484 | 1,495 | |||||||||||||||
Interest capitalized | (400 | ) | (155 | ) | (325 | ) | (773 | ) | (1,192 | ) | ||||||||||
Minority interest in consolidated subsidiaries | (5,101 | ) | (2,564 | ) | (2,137 | ) | — | — | ||||||||||||
Pre-tax income from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees plus fixed charges, amortization of capitalized interest, less interest capitalized and minority interest in pre-tax income of subsidiaries that have not incurred fixed changes | $ | 92,323 | $ | 100,957 | $ | 113,719 | $ | 109,374 | $ | 158,081 | ||||||||||
Ratio of earnings of fixed changes | 3.8 | x | 9.2 | x | 11.1 | x | 10.1 | x | 13.6 | x | ||||||||||
90