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

            

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  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

FIXED CHARGES

     124.7       117.4       94.1       79.8       90.3       49.7  

Earnings

            

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  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

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