EX-12.1 33 ex12-1.txt STATEMENT RE: COMPUTATION OF RATIOS OF EARNINGS 1 EXHIBIT 12.1 Computation of Ratio of Earnings to Fixed Charges (Dollars in Millions)
Historical: 3 months 3 months 1995 1996 1997 1998 1999 3/31/99 3/31/00 ---- ---- ---- ---- ---- ------- ------- Income before Taxes (a) $1.8 $(10.2) $(3.2) $11.1 $32.4 $6.0 $3.7 Interest Expense (b) 8.8 11.6 17.0 37.5 44.0 10.2 11.6 1/3 Rental Expense (c) 0.7 0.8 1.0 1.9 2.2 0.7 0.7 Fixed Charges (b+c) 9.5 12.4 18.0 39.4 46.2 10.9 12.3 Earnings (a+b+c) 11.3 2.2 14.8 50.5 78.6 16.9 16.0 Ratio 1.2x 0.2x 0.8x 1.3x 1.7x 1.6x 1.3x
LTM Pro Forma: 1999 3/31/00 ---- ------- Income before Taxes (a) $ 2.3 $ 4.8 Interest Expense (b) 77.8 77.6 1/3 Rental Expense (c) 2.2 2.2 Fixed Charges (b+c) 80.0 79.8 Earnings (a+b+c) 82.3 84.6 Ratio 1.0x 1.1x