Mueller Water Products, Inc. | |||||||||||
Fixed Charge Ratio Computation | |||||||||||
FY 2015 | |||||||||||
The ratio of earnings to fixed charges is shown below. | |||||||||||
Six months | |||||||||||
ended March 31, | Year ended September 30, | ||||||||||
2015 | 2014 | 2013 | 2012 | 2011 | |||||||
Income (loss) before income taxes | ($7.9) | $73.5 | $44.2 | $2.7 | ($12.9) | ||||||
Fixed charges: | |||||||||||
Total interest including amortization of debt discount and issue costs | $21.6 | $50.0 | $52.0 | $60.2 | $65.9 | ||||||
Estimated interest within rent expense | $1.6 | $3.1 | $2.8 | $2.8 | $2.8 | ||||||
Total fixed charges | $23.2 | $53.1 | $54.8 | $63.0 | $68.7 | ||||||
Earnings (1) | $15.3 | $126.6 | $99.0 | $65.7 | $55.8 | ||||||
Ratio of earnings to fixed charges (2) | 0 | 2.4 | 1.8 | 1.0 | 0 | ||||||
(1) For these ratios, "earnings" represents income (loss) before income taxes plus fixed charges. | |||||||||||
(2) Due to losses during 2015 and 2011, the ratio of earnings to fixed charges for those periods was less than 1.0. The deficiency of earnings to total fixed charges was $7.9 million and $12.9 million for 2015 and 2011, respectively. | |||||||||||