Exhibit 12
COMMONWEALTH ALUMINUM CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(UNAUDITED)
(Dollars in Thousands)
Six Months
Ended
June 30, Years Ended December 31,
---------------- -----------------------------------------------
1996 1995 1995 1994 1993 1992 1991
---- ---- ---- ---- ---- ---- ----
Earnings:
Income from continuing operations before $5,112 $29,161 $43,073 $22,791 $(11,536) $7,977 $(42,555)
income taxes...........................
Fixed charges, exclusive of capitalized
interest............................... $1,445 $ 2,075 $ 4,035 $ 370 $ 477 $ 460 $ 6,687
------ ------- ------- ------- ------- ------ --------
$6,557 $31,236 $47,108 $23,161 $(11,059) $8,437 $(35,868)
------ ------- ------- ------- -------- ------ --------
------ ------- ------- ------- -------- ------ --------
Fixed charges:
Interest charged to expense............. $1,122 $ 1,849 $ 3,473 $ 62 $ 164 $ 122 $ 6,342
One-third of rent expense............... 114 126 253 308 313 338 345
Amortization of Loan Costs............. 209 100 309
Fixed charges, exclusive of capitalized
interest.............................. $1,445 $2,075 $ 4,035 $ 370 $ 477 $ 460 $ 6,687
Capitalized interest.................. 172 - 50 - - - -
------ ------- ------- ------- -------- ------ --------
$1,617 $2,075 $4,085 $ 370 $ 477 $ 460 $ 6,687
------ ------- ------- ------- -------- ------ --------
------ ------- ------- ------- -------- ------ --------
Ratio of earnings to fixed charges....... 4.05 15.05 11.53 62.60 (23.18) 18.34 (5.36)