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EXHIBIT 12.1
RATIO OF EARNINGS TO FIXED CHARGES
(In Millions)

 
Nine Months Ended September 30,
 
Year Ended December 31,
 
2017
 
2016
 
2015
 
2014
 
2013
 
2012
Consolidated pretax income (loss) from continuing operations
$
60.0

 
$
207.0

 
$
313.1

 
$
(19.7
)
 
$
1,190.9

 
$
1,105.4

Undistributed earnings of non-consolidated affiliates
 

 
 
 
(0.1
)
 
(9.9
)
 
(74.4
)
 
(404.8
)
Amortization of capitalized interest
 

 
0.1
 
 
0.3
 
 
0.3
 
 
2.3
 
 
3.7
 
Interest expense
 
105.3

 
201.1
 
 
230.0
 
 
178.3
 
 
189.9
 
 
208.8
 
Acceleration of debt issuance costs
 
116.3

 
35.6
 
 
11.3
 
 
3.6
 
 
 
 
0.2
 
Interest portion of rental expense
 
0.2

 
0.3
 
 
0.9
 
 
2.3
 
 
2.1
 
 
2.8
 
Total Earnings
$
281.8

 
$
444.1

 
$
555.5

 
$
154.9

 
$
1,310.8

 
$
916.1

Interest expense
$
105.3

 
$
201.1

 
$
230.0

 
$
178.3

 
$
189.9

 
$
208.8

Acceleration of debt issuance costs
 
116.3

 
35.6
 
 
11.3
 
 
3.6
 
 
 
 
0.2
 
Interest portion of rental expense
 
0.2

 
0.3
 
 
0.9
 
 
2.3
 
 
2.1
 
 
2.8
 
Preferred Stock dividend requirements
 

 
 
 
38.4
 
 
51.2
 
 
48.7
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Charges Requirements
$
221.8

 
$
237.0

 
$
280.6

 
$
235.4

 
$
240.7

 
$
211.8

 
 
 
 
 
 
 
 
 
 
 
 
 
RATIO OF EARNINGS TO FIXED CHARGES
 
1.3
 
1.9
 
2.0
 
(A)
 
5.4
 
4.3
(A) For the year ended December 31, 2014, there was a deficiency of earnings to cover the fixed charges of $235.4 million.