EX-12.1 2 a2152736zex-12_1.htm EXHIBIT 12.1
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Exhibit 12.1

GENCORP
RATIO OF EARNINGS TO FIXED CHARGES

 
   Year ended November 30,
  
 
   2000
   2001
   2002
   2003
   2004
  
Income from continuing operations before income taxes   77   250   19   11   (57 )
Earnings of non-consolidated subsidiaries   —   —   —   —   —  
Minority Interest   —   —   —   —   —  
Fixed charges   16   29   13   27   — *
   
 
 
 
 
 
Earnings available for fixed charges   93   279   32   38   (57 )

Fixed Charges
 
 
 
 
 
 
 
 
 
 
 
  Amortization of debt issuance costs   —   3   4   5   —  
  Interest Expense   16   26   9   22   —  
  Portion of Rent Expense Representing Interest   —   —   —   —   —  
   
 
 
 
 
 
Total Fixed Charges   16   29   13   27   —  
   
 
 
 
 
 
Ratio of Earnings to Fixed Charges   5.8   9.6   2.5   1.4   — *
   
 
 
 
 
 
*
For fiscal 2004, our earnings were insufficient to cover fixed charges by approximately $57 million.

        A pro forma ratio of earnings to fixed charges has not been presented as our earnings were insufficient to cover fixed charges for fiscal 2004.



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GENCORP RATIO OF EARNINGS TO FIXED CHARGES