EX-12 2 dex12.htm RATIO OF EARNINGS TO FIXED CHARGES Ratio of Earnings to Fixed Charges

Exhibit 12

 

IMCO RECYCLING INC. AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(in thousands)

 

     For the three months
ended March 31,
  
     2004
     2003
  

Earnings:

                 

Income (loss) before income taxes and minority interest

    $ 4,646     $ 2,121  

Less: Equity earnings

      (17 )     (925 )

Add: Dividends

      —         —    
    
 

Sub-total:

    $ 4,629     $ 1,196  

Add: Total fixed charges (per below)

      6,998       2,813  

Less: Interest capitalized

      63       58  
    
 

Total earnings before income taxes and minority interest

    $ 11,564     $ 3,951  
    
 

Fixed Charges:

                 

Interest expense, including interest capitalized

      6,507       2,407  

Portion of rental expense representative of the interest factor

      491       406  
    
 

Total fixed charges

    $ 6,998     $ 2,813  
    
 

Ratio of Earnings to Fixed Charges

      1.7       1.4  
    
 

 

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