EXHIBIT 12 | |||||||||||||||||||||||||||
ASHLAND GLOBAL HOLDINGS INC. | |||||||||||||||||||||||||||
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES | |||||||||||||||||||||||||||
(In millions) | |||||||||||||||||||||||||||
Three months ended | |||||||||||||||||||||||||||
Years ended September 30 | December 31 | ||||||||||||||||||||||||||
2017 | 2016 | 2015 | 2014 | 2013 | 2017 | 2016 | |||||||||||||||||||||
EARNINGS | |||||||||||||||||||||||||||
Income (loss) from continuing operations | $ | (105 | ) | $ | (283 | ) | $ | (12 | ) | $ | (121 | ) | $ | 301 | $ | (7 | ) | $ | (65 | ) | |||||||
Income tax expense (benefit) | 7 | (25 | ) | (139 | ) | (290 | ) | 48 | 14 | (41 | ) | ||||||||||||||||
Interest expense | 123 | 162 | 148 | 149 | 208 | 32 | 32 | ||||||||||||||||||||
Interest portion of rental expense | 16 | 17 | 15 | 20 | 15 | 4 | 4 | ||||||||||||||||||||
Amortization of deferred debt expense | 109 | 18 | 18 | 14 | 65 | 2 | 94 | ||||||||||||||||||||
Distributions in excess of (less than) | |||||||||||||||||||||||||||
earnings of unconsolidated affiliates | 1 | 1 | 1 | (9 | ) | (10 | ) | — | — | ||||||||||||||||||
$ | 151 | $ | (110 | ) | $ | 31 | $ | (237 | ) | $ | 627 | $ | 45 | $ | 24 | ||||||||||||
FIXED CHARGES | |||||||||||||||||||||||||||
Interest expense | $ | 123 | $ | 162 | $ | 148 | $ | 149 | $ | 208 | $ | 32 | $ | 32 | |||||||||||||
Interest portion of rental expense | 16 | 17 | 15 | 20 | 15 | 4 | 4 | ||||||||||||||||||||
Amortization of deferred debt expense | 109 | 18 | 18 | 14 | 65 | 2 | 94 | ||||||||||||||||||||
Capitalized interest | 1 | 1 | 2 | 1 | 1 | — | — | ||||||||||||||||||||
$ | 249 | $ | 198 | $ | 183 | $ | 184 | $ | 289 | $ | 38 | $ | 130 | ||||||||||||||
RATIO OF EARNINGS TO FIXED CHARGES | (A) | (B) | (C) | (D) | 2.17 | 1.18 | (E) | ||||||||||||||||||||
(A) Deficiency Ratio - The Ratio of Earnings to Fixed Charges was less than 1x. To achieve a ratio of 1x, additional total earnings of $98 million would have been required for the year ended September 30, 2017. | |||||||||||||||||||||||||||
(B) Deficiency Ratio - The Ratio of Earnings to Fixed Charges was less than 1x. To achieve a ratio of 1x, additional total earnings of $308 million would have been required for the year ended September 30, 2016. | |||||||||||||||||||||||||||
(C) Deficiency Ratio - The Ratio of Earnings to Fixed Charges was less than 1x. To achieve a ratio of 1x, additional total earnings of $152 million would have been required for the year ended September 30, 2015. | |||||||||||||||||||||||||||
(D) Deficiency Ratio - The Ratio of Earnings to Fixed Charges was less than 1x. To achieve a ratio of 1x, additional total earnings of $421 million would have been required for the year ended September 30, 2014. | |||||||||||||||||||||||||||
(E) Deficiency Ratio - The Ratio of Earnings to Fixed Charges was less than 1x. To achieve a ratio of 1x, additional total earnings of $106 million would have been required for the three months ended December 31, 2016. |
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10-Q Filing
Ashland (ASH) 10-Q2018 Q1 Quarterly report
Filed: 30 Jan 18, 12:00am