EX-12.1 7 a2199939zex-12_1.htm EX-12.1

Exhibit 12.1

 

Alliant Techsystems Inc.

Computation of Ratio of Earnings to Fixed Charges

(Dollars in thousands)

 

 

 

Fiscal Year Ended March 31,

 

Three Months Ended

 

 

 

2010

 

2009

 

2008

 

2007

 

2006

 

7/4/10

 

7/5/09

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income before income taxes and noncontrolling interest

 

$

435,417

 

$

298,049

 

$

328,055

 

$

248,077

 

$

215,947

 

$

115,424

 

$

110,523

 

Plus fixed charges

 

88,932

 

98,207

 

113,942

 

102,689

 

121,725

 

20,644

 

23,794

 

Earnings

 

$

524,349

 

$

396,256

 

$

441,997

 

$

350,766

 

$

337,672

 

$

136,068

 

$

134,317

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense, including amortization of debt issuance costs

 

$

77,494

 

$

87,313

 

$

103,904

 

$

92,863

 

$

112,447

 

$

17,699

 

$

20,935

 

Estimated interest factor of rental expense

 

11,438

 

10,894

 

10,038

 

9,826

 

9,278

 

2,945

 

2,859

 

Fixed Charges

 

$

88,932

 

$

98,207

 

$

113,942

 

$

102,689

 

$

121,725

 

$

20,644

 

$

23,794

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges (1)

 

5.90

 

4.03

 

3.88

 

3.42

 

2.77

 

6.59

 

5.64

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Rent expense

 

71,486

 

68,086

 

62,739

 

61,410

 

57,989

 

18,408

 

17,872

**

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 expense