EX-12.1 59 v92967a1exv12w1.txt EXHIBIT 12.1 . . . EXHIBIT 12.1 ESTERLINE TECHNOLOGIES CORPORATION STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
ACTUAL FISCAL YEAR ----------------------------------------------------------- 1999 2000 2001 2002 2003 -------- -------- -------- -------- ---------- (DOLLARS IN THOUSANDS) Income from continuing operations before income taxes................... $ 46,583 $ 45,308 $ 67,067 $ 41,745 $ 42,791 Fixed charges(1) Interest expense...................... 9,011 8,124 7,663 7,122 11,995 Amortization of debt issuance Cost.................................. 107 116 178 167 703 Interest included in rental expense... 1,549 1,957 2,035 2,164 2,398 -------- -------- -------- -------- -------- Total............................ $ 10,667 $ 10,197 $ 9,876 $ 9,453 $ 15,096 Earnings(2)............................. $ 57,250 $ 55,505 $ 76,943 $ 51,198 $ 57,887 Ratio of earnings available to cover fixed charges......................... 5.4 5.4 7.8 5.4 3.8
------------------------------ (1) Fixed charges consist of interest on indebtedness and amortization of debt issuance cost plus that portion of lease rental expense representative of the interest factor. (2) Earnings consist of income from continuing operations before income taxes plus fixed charges.