EX-12.1 5 a2081975zex-12_1.txt EXHIBIT 12.1 NORTH AMERICAN VAN LINES, INC. CALCULATION OF EARNINGS TO FIXED CHARGES RATIO
NINE-MONTH THREE MONTH PERIOD FROM PERIOD FROM MARCH 29, DECEMBER 28, 1998 THREE THREE 1997 INCEPTION MONTHS MONTHS YEAR ENDED THROUGH THROUGH YEAR ENDED YEAR ENDED YEAR ENDED ENDED ENDED DECEMBER 27, MARCH 28, DECEMBER 26, DECEMBER 25,DECEMBER 31, DECEMBER 31, MARCH 31, MARCH 31, EARNINGS 1997 1998 1998 1999 2000 2001 2002 2001 ------------------------------------------------------------------------------------------------------------------------------------ Add: Pre-tax income from continuing 31,163 (1,335) 11,567 (1,117) 49,845 53,302 6,224 (4,360) operations before adjustment for minority interest in consolidated subs or income or loss from equity investees Fixed Charges 4,717 1,352 15,716 28,103 79,332 80,028 16,896 20,712 ---------------------------------------------------------------------------------------------- Subtotal 35,880 17 27,283 26,986 129,177 133,330 23,120 16,352 Less: Interest capitalized 183 578 117 170 - ---------------------------------------------------------------------------------------------- Total Earnings 35,880 17 27,283 26,986 128,994 132,752 23,003 16,182 ============================================================================================== NINE-MONTH THREE MONTH PERIOD FROM PERIOD FROM MARCH 29, DECEMBER 28, 1998 THREE THREE 1997 INCEPTION MONTHS MONTHS YEAR ENDED THROUGH THROUGH YEAR ENDED YEAR ENDED YEAR ENDED ENDED ENDED DECEMBER 27, MARCH 28, DECEMBER 26, DECEMBER 25,DECEMBER 31, DECEMBER 31, MARCH 31, MARCH 31, FIXED CHARGES 1997 1998 1998 1999 2000 2001 2002 2001 ------------------------------------------------------------------------------------------------------------------------------------ Interest expensed 602 - 11,567 21,409 67,251 62,001 12,576 15,837 Interest capitalized - - - - 183 578 117 170 Estimate of interest in rental expense 4,115 1,352 4,149 6,694 11,898 17,449 4,203 4,705 ---------------------------------------------------------------------------------------------- Total Fixed Charges 4,717 1,352 15,716 28,103 79,332 80,028 16,896 20,712 ============================================================================================== Earnings to Fixed Charges Ratio 7.61 0.01 1.74 0.96 1.63 1.66 1.36 0.78 Amount Earnings is Insufficient to Cover Fixed Charges (1,335) (1,117) (4,530)