EX-12 17 oa-03312015xexhibitx12.htm EX-12 oa-03312015-exhibit-12


Orbital ATK, Inc.
 
 
 
 
 
 
 
 
 
 
Computation of Ratio of Earnings to Fixed Charges
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fiscal Year Ended March 31
(Dollars in thousands)
 
2015
 
2014
 
2013
 
2012
 
2011
Earnings:
 
 
 
 
 
 
 
 
 
 
Income before interest, loss on extinguishment of debt, income taxes and noncontrolling interest
 
$
116,651

 
$
222,165

 
$
260,915

 
$
301,574

 
$
292,448

Plus fixed charges
 
100,328

 
90,668

 
77,261

 
101,081

 
99,488

Earnings
 
$
216,979

 
$
312,833

 
$
338,176

 
$
402,655

 
$
391,936

 
 
 
 
 
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
 
 
 
 
 
Interest expense, including amortization of debt issuance costs
 
$
88,676

 
$
79,792

 
$
65,386

 
$
88,620

 
$
87,313

Estimated interest factor of rental expense
 
11,652

 
10,876

 
11,875

 
12,461

 
12,175

Fixed Charges
 
$
100,328

 
$
90,668

 
$
77,261

 
$
101,081

 
$
99,488

 
 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges (1)
 
2.16

 
3.45

 
4.38

 
3.98

 
3.94

 
 
 
 
 
 
 
 
 
 
 
Rent expense
 
$
73

 
$
68

 
$
74

 
$
78

 
$
76

Percent of rent expense that represents interest
 
16
%
 
16
%
 
16
%
 
16
%
 
16
%
 
 
 
 
 
 
 
 
 
 
 
(1) For purposes of calculating the ratio of earnings to fixed charges, "earnings" represents income from continuing operations before income taxes, plus fixed charges. "Fixed charges" consist of interest expense, including amortization of debt issuance costs and that portion of rental expense considered to be a reasonable approximation of interest.