EX-12.1 4 ex121computationofratioofe.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES EX 12.1 Computation of Ratio of Earnings to Fixed Charges 3.31.13


Exhibit 12.1

Rexnord Corporation and Subsidiaries
COMPUTION OF RATIO OF EARNINGS TO FIXED CHARGES
(in Millions)
 
 
Fiscal Year Ended March 31,
 
 
2009
 
2010
 
2011
 
2012
 
2013
Earnings available for fixed charges:
 
 
 
 
 
 
 
 
 
 
(Loss) income from continuing operations before income taxes
 
$
(499.6
)
 
$
117.3

 
$
(63.3
)
 
$
44.9

 
$
75.2

Distributed income of equity investees
 
—

 
0.4

 
1.2

 
—

 
—

Fixed charges
 
235.3

 
199.0

 
185.8

 
182.2

 
158.6

Total earnings available for fixed charges
 
$
(264.3
)
 
$
316.7

 
$
123.7

 
$
227.1

 
$
233.8

 
 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
 
Interest expensed and capitalized (1)
 
$
230.4

 
$
194.2

 
$
180.8

 
$
176.2

 
$
153.3

Interest (representative of rental expense) (2)
 
4.9

 
4.8

 
5.0

 
6.0

 
5.3

Total fixed charges
 
$
235.3

 
$
199.0

 
$
185.8

 
$
182.2

 
$
158.6

 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
 
See note (3)
 
1.6

 
0.7

 
1.2

 
1.5


1.
Fixed charges including amortized premiums, discounts and capitalized expenses related to indebtedness.
2.
An estimate of the interest within rental expense (total rent expense) 33%.
3.
No ratio is presented for the fiscal year ended March 31, 2009 as the earnings for that period were insufficient to cover fixed charges by $499.6 million.