EX-12 47 file046.txt RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT 12 L-3 COMMUNICATIONS HOLDINGS, INC. AND L-3 COMMUNICATIONS CORPORATION RATIO OF EARNINGS TO FIXED CHARGES
PREDECESSOR L-3 COMPANY ----------------------------------------------------------------------------------- ------------- SIX MONTHS YEAR ENDED DECEMBER 31, NINE MONTHS THREE MONTHS ENDED --------------------------- ENDED ENDED JUNE 30, DECEMBER 31, MARCH 31, 2002 2001 2000 1999 1998 1997 1997 ------------ ------------- ------------- ------------- ------------- -------------- ------------- Earnings: Income before income taxes ..... $ 109,392 $ 186,222 $ 134,079 $ 95,430 $ 53,450 $ 22,992 $ (505) Add: Interest expense .............. 54,193 80,002 87,308 56,686 47,015 29,884 8,441 Amortization of debt expense ...................... 3,470 6,388 5,724 3,904 2,564 1,517 -- Interest component of rent expense ...................... 9,496 14,332 11,882 7,500 4,664 3,213 851 --------- --------- --------- --------- --------- -------- --------- Earnings ....................... $ 176,551 $ 286,944 $ 238,993 $ 163,520 $ 107,693 $ 57,606 $ 8,787 --------- --------- --------- --------- --------- -------- --------- Fixed charges: Interest expense ............... 54,193 80,002 87,308 56,686 47,015 29,884 8,441 Amortization of debt expense ... 3.470 6,388 5,724 3,904 2,564 1,517 -- Interest component of rent expense ....................... 9,496 14,332 11,882 7,500 4,664 3,213 851 --------- --------- --------- --------- --------- -------- --------- Fixed charges .................. $ 67,159 $ 100,722 $ 104,914 $ 68,090 $ 54,243 $ 34,614 $ 9,292 --------- --------- --------- --------- --------- -------- --------- Ratio of earnings to fixed charges ........................ 2.6x 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.