EX-12.1 2 dex121.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Computation of Ratio of Earnings to Fixed Charges

Exhibit 12.1

 

TRANSDIGM HOLDING COMPANY

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in Thousands)

 

     Predecessor
     July 23, 2003
Through
Sept. 30, 2003
    

Year

Ended

September 30, 2004

     Fiscal Year Ended September 30,
   

October 1, 2002

Through

July 22, 2003

      
     2000
    2001
    2002
       

Earnings:

                                            

Total earnings (loss)

    $ 10,779    $ 14,358    $ 30,629    $ (69,969 )   $ (2,788 )   $ 29,610

Income tax provision (benefit)

      7,972      9,386      16,804      (40,701 )     (2,275 )     16,433
    
  
  
  
 
 

Pre Tax Earnings (loss)

      18,751      23,744      47,433      (110,670 )     (5,063 )     46,043
    
  
  
  
 
 

Fixed charges:

                                            

Interest charges

      28,563      31,926      36,538      28,224       9,567       48,936

Interest factor of operating rents

      323      365      419      408       163       455
    
  
  
  
 
 

Total fixed charges

      28,886      32,291      36,957      28,632       9,730       49,391
    
  
  
  
 
 

Earnings as adjusted

    $ 47,637    $ 56,035    $ 84,390    $ (82,038 )   $ 4,667     $ 95,434
    
  
  
  
 
 

Ratio of earnings to fixed charges (1)

      1.6      1.7      2.3      —         —         1.9
    
  
  
  
 
 
(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 $110,670 and $5,063 to cover fixed charges for the period October 1, 2002 through July 22, 2003 and the period July 23, 2003 through September 30, 2003, respectively.