Albemarle (ALB) 10-K 2011 FY Annual report

Exhibit 12.1

ALBEMARLE CORPORATION

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(In Thousands Except for Ratios)

	Year Ended December 31,
	2011			2010			2009			2008			2007
Earnings:
Pre-tax income before adjustment for net income attributable to noncontrolling interests or equity in net income or losses of unconsolidated investments	$	550,623		$	392,103		$	160,273		$	183,343		$	277,819
Fixed Charges:
Interest expense (before capitalized interest)		39,992			26,624			25,820			39,171			42,835
Portion (1/3) of rents representing interest factor		10,298			9,669			9,124			10,232			8,731
Total fixed charges		50,290			36,293			34,944			49,403			51,566
Amortization of capitalized interest		1,242			1,214			1,272			1,335			1,680
Distributed income of unconsolidated investments		23,685			16,414			18,045			13,135			11,769
Interest capitalized		(2,418	)		(1,091	)		(1,236	)		(996	)		(4,503	)
Net income attributable to noncontrolling interests (net of tax)		(28,083	)		(13,639	)		(11,255	)		(18,806	)		(17,632	)
Pre-tax income before adjustment for net income attributable to noncontrolling interests or equity in net income or losses of unconsolidated investments plus fixed charges, amortization of capitalized interest, less interest capitalized and net income attributable to noncontrolling interests that have not incurred fixed charges	$	595,339		$	431,294		$	202,043		$	227,414		$	320,699
Ratio of earnings to fixed charges		11.8x			11.9x			5.8x			4.6x			6.2x