EX-12.1 16 a2074704zex-12_1.txt EXHIBIT 12.1 EXHIBIT 12.1 HEXCEL CORPORATION COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (DOLLARS IN MILLIONS)
FOR THE YEAR ENDED DECEMBER, 31 ----------------------------------------------------------------- 2001 2000 1999 1998 1997 --------- -------- --------- --------- --------- Income (loss) before Taxes, Equity in Earnings, and Extraordinary Loss $ (381.0) $ 75.0 $ (5.0) $ 78.3 $ 50.7 Interest Expense, Including Amortization of Debt Issuance Costs 64.8 68.7 73.9 38.7 25.8 Interest Portion of Rentals (1) 1.8 2.3 3.1 1.6 1.5 --------- -------- ------- -------- ------- EARNINGS BEFORE PROVISION FOR TAXES AND FIXED CHARGES $ (314.4) $ 146.0 $ 72.0 $ 118.6 $ 78.0 ========= ======== ======= ======== ======= Interest Expense, Including Amortization of Debt Issuance Costs $ 64.8 $ 68.7 $ 73.9 $ 38.7 $ 25.8 Interest Portion of Rentals (1) 1.8 2.3 3.1 1.6 1.5 --------- -------- ------- -------- ------- TOTAL FIXED CHARGES $ 66.6 $ 71.0 $ 77.0 $ 40.3 $ 27.3 ========= ======== ========= ======== ======= RATIO OF EARNINGS TO FIXED CHARGES (2) N/A 2.1 N/A 2.9 2.9 ========= ======== ========= ========= =======
---------- (1) Calculated as one third of rentals, which is a reasonable approximation of the interest factor. (2) Earnings are inadequate to cover fixed charges for 2001 and 1999. The deficiency in earnings for the years ended December 31, 2001 and December 31, 1999 is $(381.0) and $(5.0), respectively.