EX-12.1 2 0002.txt COMPUTATION OF RATIO OF EARNINGS Exhibit 12 ADVANCED GLASSFIBER YARNS LLC (formerly Glass Yarns and Specialty Materials Business) Computation of Ratio of Earnings to Fixed Charges (dollars in thousands)
Consolidated Company The Predecessor Business ---------------------------------------------- ------------------------------------------- Year Three Months Nine Months Year Year Ended Ended Ended Ended Ended December 31, December 31, December 31, December 31, December 31, ------------------------- ------------- ------------ ------------ ------------ 2000 1999 1998 1998 1997 1996 ---- ---- ---- ---- ---- ---- Earnings: Pretax income (a) $ 12,186 $ 5,796 $ 4,275 $ 59,235 $ 82,866 $ 83,294 Add: Fixed charges 36,400 37,790 9,354 898 1,076 618 Capitalized interest --------- ----------- --------- ---------- ---------- ---------- $ 48,586 $ 43,586 $ 13,629 $ 60,133 $ 83,942 $ 83,912 ========= =========== ========= ========== ========== ========== Fixed Charges: Interest expense (b) $ 35,449 $ 36,824 $ 9,113 $ - $ - $ - Capitalized interest - - - - - - Portion of rents representative of interest factor 951 966 241 898 1,076 618 --------- ----------- --------- ---------- ---------- ---------- $ 36,400 $ 37,790 $ 9,354 $ 898 $ 1,076 $ 618 ========= =========== ========= ========== ========== ========== Ratio of earnings to fixed charges 1.3x 1.2x 1.5x 67x 78x 136x
(a) Income before taxes, and extraordinary loss. (b) Includes amortization of debt issuance costs and original issue discount and excluded capitalized interest.