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S-3 Filing
NN (NNBR) S-3Shelf registration
Filed: 16 Mar 17, 12:00am
Exhibit 12.1
NN, Inc.
Computation of Ratio of Earnings to Fixed Charges
For Fiscal Years Ended December 31, 2012 through 2016
(in thousands except ratio amounts)
For Fiscal Years Ended December 31, | ||||||||||||||||||||
2016 | 2015 | 2014 | 2013 | 2012 | ||||||||||||||||
Earnings: | ||||||||||||||||||||
Income before provision for income taxes and minority interest | (7,309 | ) | (22,950 | ) | 13,172 | 25,178 | 20,341 | |||||||||||||
Fixed charges | 67,584 | 33,205 | 13,325 | 3,148 | 4,842 | |||||||||||||||
Distributed income of equity investees | 3,706 | 2,868 | 2,538 | — | — | |||||||||||||||
Pre-tax losses (gains) of equity investees | 6,427 | 5,440 | 1,646 | — | — | |||||||||||||||
Less: Interest capitalized | (1,571 | ) | (1,375 | ) | (946 | — | (173 | ) | ||||||||||||
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Total Adjusted Earnings | 68,837 | 17,188 | 29,735 | 28,326 | 25,010 | |||||||||||||||
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Fixed Charges: | ||||||||||||||||||||
Interest expense | 58,986 | 28,145 | 10,051 | 1,827 | 3,054 | |||||||||||||||
Capitalized interest | 1,571 | 1,375 | 946 | — | 173 | |||||||||||||||
Amortization of debt issuance costs | 4,168 | 1,754 | 844 | 547 | 824 | |||||||||||||||
Interest estimate within rental expense | 2,859 | 1,931 | 1,484 | 774 | 791 | |||||||||||||||
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Total Fixed Charges | 67,584 | 33,205 | 13,325 | 3,148 | 4,842 | |||||||||||||||
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Ratio of Earnings to Fixed Charges | 1.0 | x | 0.5 | x | 2.2 | x | 9.0 | x | 5.2 | x | ||||||||||
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