EX-12 4 a2204073zex-12.htm EX-12

Exhibit 12

 

Alliant Techsystems Inc.

Statement Re: Computation of Ratio of Earnings to Fixed Charges

(Dollars in thousands)

 

 

 

 

 

Fiscal Year Ended March 31,

 

 

 

2011

 

2010

 

2009

 

2008

 

2007

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

Income before income taxes and noncontrolling interest

 

$

438,674

 

$

435,417

 

$

298,049

 

$

328,055

 

$

248,077

 

Plus fixed charges

 

100,475

 

88,932

 

98,207

 

113,942

 

102,689

 

Earnings

 

$

539,149

 

$

524,349

 

$

396,256

 

$

441,997

 

$

350,766

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

Interest expense, including amortization of debt issuance costs

 

$

87,612

 

$

77,494

 

$

87,313

 

$

103,904

 

$

92,863

 

Estimated interest factor of rental expense

 

12,863

 

11,438

 

10,894

 

10,038

 

9,826

 

Fixed Charges

 

$

100,475

 

$

88,932

 

$

98,207

 

$

113,942

 

$

102,689

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges (1)

 

5.37

 

5.90

 

4.03

 

3.88

 

3.42

 

 

 

 

 

 

 

 

 

 

 

 

 

Rent expense

 

80,391

 

71,486

 

68,086

 

62,739

 

61,410

 

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.