EX-12.1 3 h94083ex12-1.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT 12.1 EGL, INC. AND SUBSIDIARIES RATIO OF EARNINGS TO FIXED CHARGES ($ IN MILLIONS)
NINE MONTHS ENDED SEPTEMBER 30, YEAR ENDED DECEMBER 31, --------------------------------------------------------------- 2001 2000 1999 1998 1997 1996 --------------------------------------------------------------- EARNINGS: Pretax income (66,663) 12,441 84,020 65,441 67,769 53,573 Deduct: Minority interest 995 1,654 920 928 1,286 456 Income from affiliates (2,547) 1,599 3,922 3,853 5,785 1,563 Add: Fixed charges 26,847 20,095 13,825 10,571 9,946 7,124 Amortization of capitalized interest -- -- -- -- -- -- Distributed income of equity investees -- -- -- -- -- -- Share of pre-tax losses of equity investees for which charges arising from guarantees are included in fixed charges -- -- -- -- -- -- Subtract: Interest capitalized -- -- -- -- -- -- Preference security dividend -- -- -- -- -- -- Minority interest in pretax income of subsidiaries that have incurred fixed charges -- -- -- -- -- -- TOTAL EARNINGS (36,274) 32,591 94,843 73,087 73,216 59,590 FIXED CHARGES: Interest costs expensed 9,257 7,005 3,193 1,953 2,922 2,803 Interest costs capitalized -- -- -- -- -- -- Amoritization of debt discount or premium 248 245 60 15 -- -- Rental expense 52,025 38,536 31,717 25,810 21,073 12,962 Portion of rental expense as can be demonstrated to be representative of the interest factor 17,342 12,845 10,572 8,603 7,024 4,321 TOTAL FIXED CHARGES 26,847 20,095 13,825 10,571 9,946 7,124 RATIO -- 1.62 6.86 6.91 7.36 8.37 SHORT FALL FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2001 63,121