EX-12.1 3 ex12-1.txt EXHIBIT 12.1 Congoleum Corporation Statement Regarding Computation of Ratio of Earnings to Fixed Charges (Dollars in thousands) December 31,
2004 2003 2002 2001 2000 --------------------------------------------------------- Earnings : Income from continuing operations $ 2,948 $ (6,762) $(19,273) $ (1,640) $(8,129) Income tax expense(benefit) (2,545) (3,874) 92 (506) (3,976) Interest expense - gross 9,675 9,217 8,625 8,629 8,624 Capitalized interest (228) (311) (250) (330) (1,113) Amortization of debt origination costs 495 509 559 386 386 Interest portion of rental expense (est.) 1,330 1,214 1,223 1,214 932 ------------------------------------------------------- Adjusted earnings $ 11,675 $ (7) $ (9,024) $ 7,753 $(3,276) ======================================================= Fixed Charges : Interest expense, net of capitalized interest $ 9,447 $ 8,906 $ 8,375 $ 8,299 $ 7,511 Capitalized interest 228 311 250 330 1,113 Amortization of debt origination costs 495 509 559 386 386 Interest portion of rental expense (est.) 1,330 1,214 1,223 1,214 932 ------------------------------------------------------- Fixed Charges $ 11,500 $ 10,940 $ 10,407 $ 10,229 $ 9,942 ======================================================= Ratio of adjusted earnings to fixed charges 1.0 N/A(1) N/A(2) N/A(3) N/A(4) =======================================================
(1) Earnings were inadequate to cover fixed charges by $10,947 (2) Earnings were inadequate to cover fixed charges by $19,431. (3) Earnings were inadequate to cover fixed charges by $2,476. (4) Earnings were inadequate to cover fixed charges by $13,218.