EX-12.1 2 a2149474zex-12_1.htm EXHIBIT 12-1

EXHIBIT 12.1

 

Alliant Techsystems Inc.

Statement Re: Computation of Ratios

(dollars in thousands)

 

 

 

2000

 

2001

 

2002

 

2003

 

2004

 

Nine Months Ended 3Q 2005

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from operations before taxes

 

$

87,230

 

$

103,394

 

$

121,334

 

$

197,477

 

$

217,796

 

$

154,309

 

Plus fixed charges

 

35,210

 

35,071

 

105,608

 

81,968

 

63,376

 

50,860

 

Earnings

 

$

122,440

 

$

138,465

 

$

226,942

 

$

279,445

 

$

281,172

 

$

205,169

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense, including amortization of debt issue costs

 

$

33,999

 

$

33,738

 

$

103,547

 

$

79,495

 

$

60,327

 

$

48,024

 

Estimated interest factor of rental expense

 

1,211

 

1,333

 

2,061

 

2,473

 

3,049

 

2,836

 

Fixed Charges

 

$

35,210

 

$

35,071

 

$

105,608

 

$

81,968

 

$

63,376

 

$

50,860

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges(1)

 

3.48x

 

3.95x

 

2.15x

 

3.41x

 

4.44x

 

4.03x

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Implied interest rate on rent

 

8.0

%

8.0

%

7.0

%

7.0

%

7.0

%

7.0

%

 

(1)                                  For purposes of calculating the ratio of earnings to fixed charges, “earnings” represents income from continuing operations before income taxes, plus fixed charges.  “Fixed charges” consist of interest expense, including amortization of debt issuance costs and that portion of rental expense considered to be a reasonable approximation of interest.