EX-12.1 8 b61206alexv12w1.txt EX-12.1 COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES . . . EXHIBIT 12.1 ALTRA INDUSTRIAL MOTION RATIO OF EARNINGS TO FIXED CHARGES ($ IN 000'S)
PREDECESSOR ------------------------------------------------------ 3 MONTHS ENDED YEAR ENDED FROM 11 MONTHS MAR. 31, DEC. 31, INCEPTION ENDED YEAR ENDED YEAR ENDED YEAR ENDED 2006 2005 DEC. 1-31, NOV. 30, DEC. 31, DEC. 31, DEC. 31, (UNAUDITED) (UNAUDITED) 2004 2004 2003 2002 2001 ----------- ----------- ---------- --------- ---------- ---------- ---------- Net Income (loss)................ $ 4,084 $ 4,444 $ (5,762) $ 6,895 $ (9,306) $(108,223) $ (252) ADJUSTMENTS TO NET LOSS: Cummulative effect of change in accounting principle - goodwill impairment ........ - - - - - 83,412 - Loss from discontinued operations - - - - - 700 1,867 Interest expense.............. 5,176 17,065 1,410 4,294 5,368 5,489 6,655 Interest component of operating rental expense.... 100 344 56 440 488 472 424 Income taxes.................. 2,822 3,917 (221) 5,532 (1,658) 2,455 4,794 ------- ------- -------- ------- --------- --------- ------- EARNINGS $12,182 $25,770 $ (4,517) $17,161 $ (5,108) (15,695) $13,488 ======= ======= ======== ======= ========= ======== ======= Fixed charges Interest expense.............. $ 5,176 $17,065 $ 1,410 $4,294 $ 5,368 $5,489 $ 6,655 Interest component of operating rental expense.... 100 344 56 440 488 472 424 ------- ------- -------- ------- --------- -------- ------- TOTAL FIXED CHARGES.............. $ 5,276 $17,409 $ 1,466 $ 4,734 $ 5,856 5,961 $ 7,079 ------- ------- -------- ------- --------- -------- ------- RATIO (1) (2).................... 2.31 1.48 - 3.63 - - 1.91 ------- ------- -------- ------- --------- ---------- -------
---------- (1) For purposes of calculating the ratio of earnings to fixed charges, earnings represent income before income taxes, discontinued operations, cumulative effect of change in accounting principle charges and fixed charges. Fixed charges represent interest expense and a portion of rental expense which we believe is representative of the interest component of rental expense. (2) Earnings were insufficient to cover fixed charges in the period December 1 to December 31, 2004, and each of the years ended December 31, 2003 and 2002 by $6.0 million, $11.0 million, and $21.7 million, respectively.