EX-12.1 7 ex12-1.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Unassociated Document
Exhibit 12.1
 
 
 
 
Alliant Techsystems Inc.
                                         
Statement Re: Computation of Ratio of Earnings to Fixed Charges
                                     
(Dollars in thousands)
                                         
   
Fiscal Year Ended March 31,
               
3 months ended
 
                                           
   
2013
   
2012
   
2011
   
2010
   
2009
   
Q1 FY14 - 6/30/2013
   
Q1 FY13 - 7/1/2012
Earnings:
                                         
Income before income taxes and noncontrolling interest
  $ 392,484     $ 406,966     $ 438,674     $ 435,417     $ 298,049     $ 125,625     $ 130,688  
Plus fixed charges
    78,579       102,495       100,475       88,932       98,207       17,149       22,979  
   Earnings
  $ 471,063     $ 509,461     $ 539,149     $ 524,349     $ 396,256     $ 142,774     $ 153,667  
                                                         
Fixed Charges:
                                                       
Interest expense, including
   amortization of debt issuance costs
  $ 65,924     $ 89,296     $ 87,612     $ 77,494     $ 87,313     $ 13,890     $ 19,815  
Estimated interest factor of rental
   expense
    12,655       13,199       12,863       11,438       10,894       3,259       3,164  
   Fixed Charges
  $ 78,579     $ 102,495     $ 100,475     $ 88,932     $ 98,207     $ 17,149     $ 22,979  
                                                         
Ratio of Earnings to Fixed Charges(1)
    5.99       4.97       5.37       5.90       4.03       8.33       6.69  
                                                         
Rent expense
    79,093       82,494       80,391       71,486       68,086       20,366       19,773 **
Percent of rent expense that
   represents interest
    16 %     16 %     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.
                                                         
                                                         
** Approximates quarterly rent