EX-12 10 file009.txt RATIO OF EARNINGS TO FIXED CHARGES L-3 COMMUNICATIONS HOLDINGS, INC. AND L-3 COMMUNICATIONS CORPORATION RATIO OF EARNINGS TO FIXED CHARGES (DOLLARS IN THOUSANDS) EXHIBIT 12
L-3 ------------------------------------------------------------------------------ YEAR ENDED DECEMBER 31, ------------------------------------------------------------------------------ 2002 2001 2000 1999 1998 ------------- ------------- -------------- ------------- ------------- Earnings: Income before income taxes and extraordinary items ........................ $ 330,210 $ 186,222 $ 134,079 $ 95,430 $ 53,450 Add: Interest expense ........................... 115,100 80,002 87,308 56,686 47,015 Amortization of debt expense ............... 7,392 6,388 5,724 3,904 2,564 Interest component of rent expense ......... 22,342 14,332 11,882 7,500 4,664 --------- --------- ---------- --------- --------- Earnings ..................................... $ 475,044 $ 286,944 $ 238,993 $ 163,520 $ 107,693 --------- --------- ---------- --------- --------- Fixed charges: Interest expense ........................... 115,100 80,002 87,308 56,686 47,015 Amortization of debt expense ............... 7,392 6,388 5,724 3,904 2,564 Interest component of rent expense ......... 22,342 14,332 11,882 7,500 4,664 --------- --------- ---------- --------- --------- Fixed charges ................................ $ 144,834 $ 100,722 $ 104,914 $ 68,090 $ 54,243 --------- --------- ---------- --------- --------- Ratio of earnings to fixed charges ............ 3.3x 2.8x 2.3x 2.4x 2.0x ========= ========= ========== ========= =========