EX-12.1 46 y95660exv12w1.txt COMPUTATION OF RATIOS OF EARNINGS & FIXED CHARGES . . . EXHIBIT 12.1 ------------
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES PRE-RECAPITALIZATION ------------------------------------------------------------------- JAN. 1, 2003 TO JAN. 9, (dollars in thousands) 1999 2000 2001 2002 2003 -------- -------- -------- -------- -------- EARNINGS: (unaudited) -------- Earnings from continuing operations before provision (benefit) for income taxes $ 30,100 $ 700 $ 13,000 $ 23,900 $ (1,400) Fixed Charges $ 8,094 $ 18,647 $ 30,267 $ 36,836 $ 1,019 Earnings from continuing operations -------- -------- -------- -------- --------- plus fixed charges $ 38,194 $ 19,347 $ 43,267 $ 60,736 $ (381 ======== ======== ======== ======== ========= FIXED CHARGES: -------------- Interest charges, net 6,888 16,997 28,657 35,031 976 Plus interest factor in operating rent expense 1,206 1,650 1,610 1,805 43 -------- -------- -------- -------- --------- Total fixed charges 8,094 18,647 30,267 36,836 1,019 ======== ======== ======== ======== ========= Ratio of earnings to fixed charges (excess of fixed charges over earnings)(4) 4.7x 1.x 1.4x 1.6x (0.4)x ======== ======== ======== ======== =========
POST-NORTEK RECAPITALI- ZATION (1) ------------- COMBINED PRO FORMA FISCAL YEAR FISCAL YEAR JAN. 10, 2003 ENDED ENDED TO DEC. 31, DECEMBER 31, DECEMBER 31, (dollars in thousands) 2003 2003 2003 -------- -------- -------- EARNINGS: (unaudited) -------- Earnings from continuing operations before provision (benefit) for income taxes $ 18,200 $ 16,800 $ 26,884 Fixed Charges $ 35,106 $ 36,125 $ 34,123 Earnings from continuing operations plus fixed charges -------- -------- -------- $ 53,306 $ 52,925 $ 61,007 ======== ======== ======== FIXED CHARGES: -------------- Interest charges, net 33,117 34,093 32,091 Plus interest factor in operating rent expense 1,989 2,032 2,032 Total fixed charges -------- -------- -------- 35,106 36,125 34,123 ======== ======== ======== Ratio of earnings to fixed charges (excess of fixed charges over earnings)(4) 1.5x 1.5x 1.8x ======== ======== ========