EX-12.1 5 a2123437zex-12_1.htm EXHIBIT 12.1
QuickLinks -- Click here to rapidly navigate through this document


Exhibit 12.1

         GENCORP
RATIO OF EARNINGS TO FIXED CHARGES

 
    
    
    
    
    
    
    
    
   Pro Forma reflecting
this offering
and the Acquisition
of the ARC
Propulsion Business
Nine months ended
August 31, 2003
 
    
    
    
    
    
   Nine months ended August 31,
    
 
   Year ended November 30,
   Pro Forma reflecting this offering
and the Acquisition of the ARC
Propulsion Business
Year ended November 30, 2002
 
   1998
   1999
   2000
   2001
   2002
   2002
   2003
Income from continuing operations before income taxes   60   74   87   187   42   27   13   43   17
Earnings of non-consolidated subsidiaries                                    
Minority Interest   —   —   (3 ) (4 ) 1   0   1   1   1
Fixed charges   8   7   20   39   23   16   23   43   32
   
 
 
 
 
 
 
 
 
Earnings available for fixed charges   68   81   104   222   66   43   37   87   50

Fixed Charges
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Amortization of debt issuance costs   —   —   —   3   4   3   4   5   4
Interest Expense   6   6   18   33   16   11   17   35   25
Portion of Rent Expense representing Interest   2   1   2   3   3   2   2   3   3
   
 
 
 
 
 
 
 
 
Total Fixed Charges   8   7   20   39   23   16   23   43   32
   
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges   8.5   11.6   5.2   5.7   2.9   2.7   1.6   2.0   1.6
   
 
 
 
 
 
 
 
 


QuickLinks