EX-12 3 file002.txt COMPUTATION OF RATIOS EXHIBIT 12 L-3 COMMUNICATIONS HOLDINGS, INC. AND L-3 COMMUNICATIONS CORPORATION RATIO OF EARNINGS TO FIXED CHARGES
L-3 PREDECESSOR ---------------------------------------------------------------------------------------- COMPANY ------------ THREE MONTHS NINE MONTHS THREE MONTHS ENDED ENDED ENDED MARCH 31, YEAR ENDED DECEMBER 31, DECEMBER 31, MARCH 31, 2002 2001 2000 1999 1998 1997 1997 ------------ ----------- ----------- ----------- ----------- ------------- ------------ Earnings: Income before income taxes $ 45,253 $ 186,222 $ 134,079 $ 95,430 $ 53,450 $ 22,992 $ (505) Add: Interest expense ........ 24,346 80,002 87,308 56,686 47,015 29,884 8,441 Amortization of debt expense ............... 1,747 6,388 5,724 3,904 2,564 1,517 -- Interest component of rent expense .......... 3,950 14,332 11,882 7,500 4,664 3,213 851 -------- --------- --------- --------- --------- -------- -------- Earnings .................. $ 75,296 $ 286,944 $ 238,993 $ 163,520 $ 107,693 $ 57,606 $ 8,787 -------- --------- --------- --------- --------- -------- -------- Fixed charges: Interest expense ........ 24,346 80,002 87,308 56,686 47,015 29,884 8,441 Amortization of debt expense................ 1,747 6,388 5,724 3,904 2,564 1,517 -- Interest component of rent expense .......... 3,950 14,332 11,882 7,500 4,664 3,213 851 -------- --------- --------- --------- --------- -------- -------- Fixed charges ............. $ 30,043 $ 100,722 $ 104,914 $ 68,090 $ 54,243 $ 34,614 $ 9,292 -------- --------- --------- --------- --------- -------- -------- Ratio of earnings to fixed charges .................. 2.5x 2.8x 2.3x 2.4x 2.0x 1.7x n.a.(a) ======== ========= ========= ========= ========= ======== ========
---------- (a) For the three months ended March 31, 1997, earnings were insufficient to cover fixed charges by $.5 million.