EX-12.1 3 dex121.htm COMPUTATION OF RATION OF EARNINGS TO FIXED CHARGES Computation of Ration of Earnings to Fixed Charges

EXHIBIT 12.1

 

TRANSDIGM HOLDING COMPANY

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in Thousands)

 

     Fiscal Year Ended September 30,

   October 1,
2002
Through
July 22,
2003


    July 23,
2003
Through
Sept. 30,
2003


 
     1999

    2000

   2001

   2002

    

Earnings:

                                             

Total earnings (loss)

   $ (16,917 )   $ 10,779    $ 14,358    $ 30,629    $ (69,969 )   $ (2,788 )

Income tax provision (benefit)

     (2,772 )     7,972      9,386      16,804      (40,701 )     (2,275 )
    


 

  

  

  


 


Pre Tax Earnings (loss)

     (19,689 )     18,751      23,744      47,433      (110,670 )     (5,063 )
    


 

  

  

  


 


Fixed charges:

                                             

Interest charges

     22,722       28,563      31,926      36,538      28,224       9,567  

Interest factor of operating rents

     227       323      365      419      408       163  
    


 

  

  

  


 


Total fixed charges

     22,949       28,886      32,291      36,957      28,632       9,730  
    


 

  

  

  


 


Earnings as adjusted

   $ 3,260     $ 47,637    $ 56,035    $ 84,390    $ (82,038 )   $ 4,667  
    


 

  

  

  


 


Ratio of earnings to fixed charges(1)

     —         1.6      1.7      2.3      —         —    
    


 

  

  

  


 



(1) For purposes of computing the ratio of earnings to fixed charges, earnings consist of earnings before income taxes plus fixed charges. Fixed charges consist of interest expense, amortization of debt issuance costs and the portion (approximately 33%) of rental expense that management believes is representative of the interest component of rental expense. Earnings were insufficient by $19,689, $110,670 and $5,063 to cover fixed charges for the fiscal year ended September 30, 1999, the period October 1, 2002 through July 22, 2003, and the period July 23, 2003 through September 30, 2003, respectively.