Exhibit 12.1
Graphic Packaging International
Fixed Charges Ratio
6/30/2017
| Year Ended December 31, | ||||||||||||||||||||||||
| 2012 | 2013 | 2014 | 2015 | 2016 | 6/30/2017 | |||||||||||||||||||
| Fixed Charges |
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| Interest Expense |
105.4 | 95.6 | 77.7 | 65.2 | 72.5 | 41.3 | ||||||||||||||||||
| Amortization of Debt Issue Cost |
6.2 | 6.3 | 4.8 | 4.1 | 4.8 | 2.5 | ||||||||||||||||||
| Capitalized Interest |
2.2 | 3.5 | 1.6 | 0.8 | 1.3 | 0.1 | ||||||||||||||||||
| Interest Factor in Rent Expense |
10.9 | 12.0 | 10.0 | 9.7 | 11.7 | 5.8 | ||||||||||||||||||
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| FIXED CHARGES |
124.7 | 117.4 | 94.1 | 79.8 | 90.3 | 49.7 | ||||||||||||||||||
| Earnings |
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| Income from Continuing Operations Before Income Tax |
202.6 | 214.1 | 134.4 | 360.5 | 321.2 | 120.2 | ||||||||||||||||||
| Dividends Received, Net of Earnings in Equity Affiliates |
(2.3 | ) | (0.2 | ) | 0.3 | — | 0.6 | (0.7 | ) | |||||||||||||||
| Fixed Charges |
124.7 | 117.4 | 94.1 | 79.8 | 90.3 | 49.7 | ||||||||||||||||||
| Capitalized Interest |
(2.2 | ) | (3.5 | ) | (1.6 | ) | (0.8 | ) | (1.3 | ) | (0.1 | ) | ||||||||||||
| Amortization of Capitalized Interest |
2.0 | 2.0 | 1.8 | 1.6 | 1.7 | 0.8 | ||||||||||||||||||
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| EARNINGS |
324.8 | 329.8 | 229.0 | 441.1 | 412.5 | 169.9 | ||||||||||||||||||
| Ratio of Earnings to Fixed Charges |
2.6 | 2.8 | 2.4 | 5.5 | 4.6 | 3.4 | ||||||||||||||||||