EX-12.1 40 a2178691zex-12_1.htm EXHIBIT 12.1
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Exhibit 12.1


TRANSDIGM GROUP INCORPORATED
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in Thousands)

 
   
   
   
   
   
  Predecessor
 
  Twenty-Six
Weeks
Ended
March 31
2007

  Twenty-Six
Weeks
Ended
April 1,
2006

   
   
   
  July 23,
2002
Through
Sept. 30,
2003

  October 1,
2002
Through
July 22,
2003

   
 
  Fiscal Years Ended September 30,
  Fiscal Year
Ended
September 30,
2002

 
  2006
  2005
  2004
Earnings:                                                
  Total earnings (loss)   $ 41,849   $ 23,258   $ 25,117   $ 34,687   $ 13,622   $ (5,759 ) $ (69,969 ) $ 30,629
  Income tax provision (credit)     24,743     14,499     16,318     22,627     6,682     (3,970 )   (40,701 )   16,804
   
 
 
 
 
 
 
 
    Pre Tax Earnings (loss)     66,592     37,757     41,435     57,314     20,304     (9,729 )   (110,670 )   47,433
   
 
 
 
 
 
 
 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
  Interest charges     40,396     39,181     76,732     80,266     74,675     14,233     28,224     36,538
  Interest factor of operating rents(1)     363     349     698     635     452     163     408     419
   
 
 
 
 
 
 
 
      Total fixed charges     40,759     39,530     77,430     80,901     75,127     14,396     28,632     36,957
   
 
 
 
 
 
 
 

Earnings as adjusted

 

$

107,351

 

$

77,287

 

$

118,865

 

$

138,215

 

$

95,431

 

$

4,667

 

$

(82,038

)

$

84,390
   
 
 
 
 
 
 
 

Ratio of earnings to fixed charges

 

 

2.6

 

 

2.0

 

 

1.5

 

 

1.7

 

 

1.3

 

 


(2)

 


(2)

 

2.3

(1)
For purposes of computing the ratio of earnings to fixed charges, earnings consist of earnings before income taxes plus fixed charges. Fixed charges consists of interest expense, amortization of debt issue costs and the portion (approximately 33%) of rental expense that management believes is representative of the interest component of rental expense.

(2)
Earnings were insufficient by $110,670 and $9,729 to cover fixed charges for the period October 1, 2002 through July 22, 2003 and the period July 8, 2003 through September 30, 2003, respectively.



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TRANSDIGM GROUP INCORPORATED COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (Dollars in Thousands)