EX-12.1 3 exhibit121ratioofearningst.htm EXHIBIT 12.1 Exhibit 12.1 Ratio of Earnings to Fixed Charges - YE 2014


Exhibit 12.1

COLFAX CORPORATION AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in thousands)

 
Year Ended December 31,
 
2014
 
2013
 
2012
 
2011
 
2010
Earnings:
 
 
 
 
 
 
 
 
 
Income before income taxes
$
358,248

 
$
302,795

 
$
48,439

 
$
19,987

 
$
27,688

Plus: fixed charges
64,582

 
115,399

 
104,739

 
7,542

 
8,214

Earnings available to cover fixed charges
$
422,830

 
$
418,194

 
$
153,178

 
$
27,529

 
$
35,902

 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
Interest expense, including amortization of deferred financing costs
$
51,305

 
$
103,597

 
$
91,570

 
$
5,919

 
$
6,684

Interest portion of rental payment
13,277

 
11,802

 
13,169

 
1,623

 
1,530

Total fixed charges
64,582

 
115,399

 
104,739

 
7,542

 
8,214

Dividends on preferred stock
2,348

 
20,396

 
18,951

 
—

 
—

Total fixed charges and dividends on preferred stock
$
66,930

 
$
135,795

 
$
123,690

 
$
7,542

 
$
8,214

 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
6.55

 
3.62

 
1.46

 
3.65

 
4.37

Ratio of earnings to fixed charges and dividends on preferred stock
6.32

 
3.08

 
1.24

 
3.65

 
4.37