EX-12.1 8 ex12-1.txt EXHIBIT 12.1 Congoleum Corporation Statement Regarding Computation of Ratio of Earnings to Fixed Charges (Dollars in thousands)
2006 2005 2004 2003 2002 --------------------------------------------------------------------- Earnings: --------- Income from continuing operations $ 679 $ (21,575) $ 2,948 $ (6,762) $ (19,273) Income tax (benefit) expense (844) (2,575) (2,545) (3,874) 92 Interest expense - gross 11,453 10,487 9,674 9,217 8,625 Capitalized interest (66) (76) (228) (311) (250) Amortization of debt origination costs 336 336 495 509 559 Interest portion of rental expense (est.) 289 339 359 328 330 --------------------------------------------------------------------- Adjusted earnings $ 11,847 $ (13,065) $ 10,703 $ (893) $ (9,917) ===================================================================== Fixed Charges: -------------- Interest expense, net of capitalized interest $ 11,387 $ 10,411 $ 9,447 $ 8,906 $ 8,375 Capitalized interest 66 76 228 311 250 Amortization of debt origination costs 336 336 495 509 559 Interest portion of rental expense (est.) 289 339 359 328 330 --------------------------------------------------------------------- Fixed Charges $ 12,078 $ 11,162 $ 10,529 $ 10,054 $ 9,514 ===================================================================== Ratio of adjusted earnings to fixed charges N/A(1) N/A(2) 1.1 N/A(3) N/A(4) ===================================================================== (1) Earnings were inadequate to cover fixed charges by $ 231 (2) Earnings were inadequate to cover fixed charges by $ 24,226 (3) Earnings were inadequate to cover fixed charges by $ 10,947 (4) Earnings were inadequate to cover fixed charges by $ 19,431