EX-12.1 2 dex121.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Computation of Ratio of Earnings to Fixed Charges

EXHIBIT 12.1

C&D TECHNOLOGIES, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(In thousands except ratio data)

 

     Year Ended January 31,     Six Months
Ended July  31,
 
     2011     2010     2009     2008     2007     2011  

Earnings

            

Loss before income taxes, noncontrolling interest and discontinued operations

   $ (68,764   $ (23,557   $ (15,457   $ (770   $ (16,522   $ (1,227

Interest expense and amortization of debt costs

     14,795        12,486        12,032        10,960        14,266        2,511   

Interest portion of rent*

     625        820        782        678        699        340   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
   $ (53,344   $ (10,251   $ (2,644   $ 10,868      $ (1,557   $ 1,624   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Fixed Charges

            

Interest expense and amortization of debt costs

     14,795        12,486        12,032        10,960        14,266        2,511   

Interest portion of rent

     625        820        782        678        699        340   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
   $ 15,420      $ 13,306      $ 12,814      $ 11,638      $ 14,965      $ 2,851   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Ratio of earnings to fixed charges

     x (1)      x (1)      x (1)      x (1)      x (1)      x (1) 
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

 * The Company has determined the interest component of rent expense to be 0.30.
(1)

The ratio of earnings to fixed charges was less than 1:1 for the six months ended July 31, 2011. In order to achieve a ratio of earnings to fixed charges of 1:1, we would have had to generate an additional $1,227 thousand of earnings in the six month period. The ratio of earnings to fixed charges was less than 1:1 for fiscal year 2011. In order to achieve a ratio of earnings to fixed charges of 1:1, we would have had to generate an additional $68.8 million of earnings in fiscal 2011. The ratio of earnings to fixed charges was less than 1:1 for fiscal year 2010. In order to achieve a ratio of earnings to fixed charges of 1:1, we would have had to generate an additional $23.6 million of earnings in fiscal 2010. The ratio of earnings to fixed charges was less than l:1 for fiscal year 2009. In order to achieve a ratio of earnings to fixed charges of 1:1 we would have had to generate an additional $15.5 million of earnings in fiscal 2009. The ratio to fixed charges was less than 1:1 for fiscal year 2008. In order to achieve a ratio of earnings to fixed charges of 1:1 we would have had to generate an additional $0.8 million of earnings in fiscal year 2008. The ratio to fixed charges was less than 1:1 in fiscal year 2007. In order to achieve a ratio of earnings to fixed charges of 1:1 we would have had to generate an additional $16.5 million of earnings in fiscal 2007.