EX-12.1 4 a2101870zex-12_1.txt EXHIBIT 12.1 Exhibit 12.1 CASELLA WASTE SYSTEMS, INC. STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (IN THOUSANDS, EXCEPT RATIOS)
NINE MONTHS YEAR ENDED APRIL 30, ENDED JANUARY 31 ---------------------------------------------------- ------------------- 1998 1999 2000 2001 2002 2002 2003 -------- -------- -------- -------- -------- -------- -------- FIXED CHARGE COVERAGE RATIO: Income (loss) from continuing operations before income taxes, discontinued operations, extraordinary item and cumulative effect of change in accounting principle..................... $ 5,690 $13,665 $21,805 $(94,972) $17,714 $14,720 $14,870 Undistributed earnings and minority interests........ -- -- 502 1,026 (154) (2) (152) (Gain) / loss in equity method investees............. -- -- 1,062 26,256 (1,899) (1,349) (2,357) Distributed income of equity method investees........ -- -- -- -- 500 -- -- Fixed charges........................................ 7,749 6,171 17,547 41,961 31,888 24,923 21,172 Less: interest capitalized........................... (138) (530) (640) (373) (437) (343) (507) ------- ------- ------- -------- ------- ------- ------- Earnings (loss)...................................... $13,301 $19,306 $40,276 $(26,102) $47,612 $37,949 $33,026 ------- ------- ------- -------- ------- ------- ------- Interest expense (includes amortization of deferred financing charges)................................. $ 7,611 $ 5,641 $16,907 $ 41,588 $31,451 $24,580 $20,665 Interest capitalized................................. 138 530 640 373 437 343 507 ------- ------- ------- -------- ------- ------- ------- Fixed charges........................................ $ 7,749 $ 6,171 $17,547 $ 41,961 $31,888 $24,923 $21,172 ------- ------- ------- -------- ------- ------- ------- Ratio of earnings to fixed charges................... 1.72 3.13 2.30 -- 1.49 1.52 1.56 ------- ------- ------- -------- ------- ------- ------- PROFORMA FIXED CHARGE COVERAGE RATIO: Proforma income from continuing operations before income taxes, discontinued operations, extraordinary item and cumulative effect of change in accounting principle............................ $24,898 $23,796 Undistributed earnings and minority interests........ (154) (152) Gain in equity method investees...................... (1,899) (1,751) Distributed income of equity method investees........ 500 -- Proforma fixed charges............................... 24,704 12,246 Less: interest capitalized........................... (437) (507) ------- ------- Proforma earnings.................................... $47,612 $33,632 ------- ------- Proforma interest expense (includes amortization of deferred financing charges)........................ $24,267 $11,739 Interest capitalized................................. 437 507 ------- ------- Proforma fixed charges............................... $24,704 $12,246 ------- ------- Ratio of proforma earnings to proforma fixed charges............................................ 1.93 2.75 ------- -------