EX-12.1 25 0025.txt RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT 12.1 PHILIPP BROTHERS CHEMICALS INC. RATIO OF EARNINGS TO FIXED CHARGES (IN THOUSANDS OF DOLLARS, EXCEPT RATIO)
PRO FORMA YEARS ENDING JUNE 30, -------- -------------------------------------------------- 1998 1998 1997 1996 1995 1994 -------- -------- ------- ------ ------- ------ Earnings: Income (loss) before income taxes and extraordinary items................... $(15,151) $(11,754) $ 9,104 $2,651 $ 5,285 $5,110 Add: Interest expense......................... 11,672 6,865 6,253 5,546 5,409 4,205 Interest component of rent expense....... 786 709 741 648 506 561 -------- -------- ------- ------ ------- ------ $ (2,693) $ (4,180) $16,098 $8,845 $11,200 $9,876 -------- -------- ------- ------ ------- ------ -------- -------- ------- ------ ------- ------ Fixed charges: Interest expense......................... $ 11,672 $ 6,865 $ 6,253 $5,546 $ 5,409 $4,205 Interest component of rent expense....... 786 709 741 648 506 561 -------- -------- ------- ------ ------- ------ $ 12,458 $ 7,574 $ 6,994 $6,194 $ 5,915 $4,766 -------- -------- ------- ------ ------- ------ -------- -------- ------- ------ ------- ------ Ratio...................................... * * 2.3x 1.4x 1.9x 2.1x
------------------ * Ratio is less than 1:1. For the year ended June 30, 1998, historical and pro forma, earnings are less than fixed charges by $11,754 and $15,151, respectively.