EX-12.1 3 exhibit-121computationofra.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit-12.1 Computation of Ratio of Earnings to Fixed Charges



Exhibit 12.1
TRIUMPH GROUP, INC.
Computation of Ratio of Earnings to Fixed Charges
(dollars in thousands)
 
Three Months Ended June 30,
 
Year Ended March 31,
 
2014
 
2013
 
2014
 
2013
 
2012
 
2011
 
2010
EARNINGS AS DEFINED
 
 
 
 
 
 
 
 
 
 
 
 
 
Income from continuing
 
 
 
 
 
 
 
 
 
 
 
 
 
operations, before income
 
 
 
 
 
 
 
 
 
 
 
 
 
taxes
$
198,164

 
$
121,636

 
$
312,233

 
$
463,057

 
$
437,577

 
$
234,477

 
$
126,455

Fixed Charges
45,349

 
22,628

 
102,268

 
81,713

 
91,805

 
94,771

 
35,296

TOTAL EARNINGS, AS
 
 
 
 
 
 
 
 
 
 
 
 
 
DEFINED
$
243,513

 
$
144,264

 
$
414,501

 
$
544,770

 
$
529,382

 
$
329,248

 
$
161,751

FIXED CHARGES, AS
 
 
 
 
 
 
 
 
 
 
 
 
 
DEFINED
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense
$
35,484

 
$
18,260

 
$
79,092

 
$
64,105

 
$
63,806

 
$
67,604

 
$
21,915

Interest portion of rental
 
 
 
 
 
 
 
 
 
 
 
 
 
expenses
2,965

 
3,159

 
14,528

 
13,422

 
13,869

 
15,353

 
5,234

Amortization of capitalized
 
 
 
 
 
 
 
 
 
 
 
 
 
expenses related to debt
5,323

 
1,064

 
6,702

 
3,638

 
9,601

 
4,205

 
1,951

Accretion of debt discount
1,577

 
145

 
1,946

 
548

 
4,529

 
7,609

 
6,196

TOTAL FIXED CHARGES,
 
 
 
 
 
 
 
 
 
 
 
 
 
AS DEFINED
$
45,349

 
$
22,628

 
$
102,268

 
$
81,713

 
$
91,805

 
$
94,771

 
$
35,296

RATIO OF EARNINGS TO
 
 
 
 
 
 
 
 
 
 
 
 
 
FIXED CHARGES
5.4

 
6.4

 
4.1

 
6.7

 
5.8

 
3.5

 
4.6