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Content analysis
?Positive | ||
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Constraining | ||
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Readability |
H.S. freshman Avg
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Exhibit 12.1
Domtar Corporation
Computation of ratio of earnings to fixed charges
(In millions of dollars, unless otherwise noted)
|
| Three months ended |
|
| Six months ended |
| ||||||||||
|
| June 30, |
|
| June 30, |
|
| June 30, |
|
| June 30, |
| ||||
|
| 2017 |
|
| 2016 |
|
| 2017 |
|
| 2016 |
| ||||
|
| $ |
|
| $ |
|
| $ |
|
| $ |
| ||||
Available earnings: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings before income taxes |
|
| 47 |
|
|
| 24 |
|
|
| 72 |
|
|
| 25 |
|
Add fixed charges: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense incurred |
|
| 16 |
|
|
| 15 |
|
|
| 33 |
|
|
| 31 |
|
Amortization of debt expense and discount |
|
| 1 |
|
|
| — |
|
|
| 1 |
|
|
| 1 |
|
Interest portion of rental expense (1) |
|
| 2 |
|
|
| 2 |
|
|
| 4 |
|
|
| 4 |
|
Total earnings as defined |
|
| 66 |
|
|
| 41 |
|
|
| 110 |
|
|
| 61 |
|
Fixed charges: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense incurred |
|
| 16 |
|
|
| 15 |
|
|
| 33 |
|
|
| 31 |
|
Amortization of debt expense and discount |
|
| 1 |
|
|
| — |
|
|
| 1 |
|
|
| 1 |
|
Interest portion of rental expense (1) |
|
| 2 |
|
|
| 2 |
|
|
| 4 |
|
|
| 4 |
|
Total fixed charges |
|
| 19 |
|
|
| 17 |
|
|
| 38 |
|
|
| 36 |
|
Ratio of earnings to fixed charges |
|
| 3.5 |
|
|
| 2.4 |
|
|
| 2.9 |
|
|
| 1.7 |
|
(1) | Interest portion of rental expense is calculated based on the proportion deemed representation of the interest component (i.e 1/3 of rental expense). |