EX-12.1 12 esl-ex121_10.htm EX-12.1 esl-ex121_10.htm

Exhibit 12.1

ESTERLINE TECHNOLOGIES CORPORATION

(In thousands)

Statement of Computation of Ratio of Earnings to Fixed Charges

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Eleven

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Months

 

 

 

Twelve Months Ended

 

 

Ended

 

 

 

2016

 

 

2015

 

 

2014

 

 

2013

 

 

2012

 

 

2015

 

 

 

 

 

 

 

(Unaudited)

(Recast)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings from Continuing

   Operations Before

   Income Taxes

$

140,435

 

 

$

155,233

 

 

$

209,298

 

 

$

203,658

 

 

$

140,145

 

 

$

116,022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges 1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

30,091

 

 

 

33,114

 

 

 

33,010

 

 

 

39,637

 

 

 

46,227

 

 

 

30,090

 

 

Interest included in

   rental expense

 

6,423

 

 

 

6,785

 

 

 

5,936

 

 

 

5,620

 

 

 

5,529

 

 

 

6,219

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Fixed Charges

 

36,514

 

 

 

39,899

 

 

 

38,946

 

 

 

45,257

 

 

 

51,756

 

 

 

36,309

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings 2

$

176,949

 

 

$

195,132

 

 

$

248,244

 

 

$

248,915

 

 

$

191,901

 

 

$

152,331

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings available

   to cover fixed charges

4.8

 

 

4.9

 

 

6.4

 

 

5.5

 

 

3.7

 

 

4.2

 

 

 

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 earnings from continuing operations before income taxes plus fixed charges.