EX-12.1 7 exhibit121-2016.htm STATEMENT REGARDING COMPUTATION OF RATIOS Exhibit


Exhibit 12.1

HEXION INC.
Statement Regarding Computation of Ratios
(Amounts in millions of dollars)

 
Year ended December 31,
 
2016
 
2015
 
2014
 
2013
 
2012
 
(dollars in millions, except per share data)
 
 
 
 
 
 
 
 
 
 
Pre-tax loss from continuing operations before adjustment for noncontrolling interests in consolidated subsidiaries or earnings from unconsolidated entities
(11
)
 
(22
)
 
(222
)
 
(210
)
 
(183
)
Fixed Charges:
 
 
 
 
 
 
 
 
 
Interest expensed and capitalized
311

 
330

 
308

 
304

 
263

Interest element of lease costs
11

 
12

 
12

 
12

 
12

Total fixed charges
322

 
342

 
320

 
316

 
275

Pre-tax income from continuing operations before adjustment for noncontrolling interests in consolidated subsidiaries or earnings from unconsolidated entities, plus fixed charges
311

 
320

 
98

 
106

 
92

Ratio of earnings to fixed charges
N/A

 
N/A

 
N/A

 
N/A

 
N/A

(1)
The interest element of lease costs has been calculated as 1/3 of the rental expense relating to operating leases as management believes this represents the interest portion hereof.
(2)
Our earnings were insufficient to cover fixed charges by $11, $22, $222, $210 and $183 for the years ended December 31, 2016, 2015, 2014, 2013 and 2012, respectively.