EX-12.1 5 k94439exv12w1.txt RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT 12.1 TITAN HOLDINGS, INC. STATEMENT RE: COMPUTATION OF EARNINGS TO FIXED CHARGES (IN THOUSANDS)
ELEVEN MONTHS ENDED SIX MONTHS ENDED DECEMBER 31, YEARS ENDED DECEMBER 31, JUNE 30, DECEMBER 31, ----------------------------------- ----------------------- 2000 2001 2002 2003 2004 2004 ------------ -------- ------------- -------- -------- ------------ (predecessor) (successor) --------------------------------------------------------------- Earnings: Income (loss) before income taxes $ 18,175 $ 181 $ 11,175 $ 11,691 $ 5,388 $ 976 Minority interest in net income (loss) 852 317 (21) Interest expense 10,015 14,726 13,433 9,444 4,666 11,638 Amortization of deferred financing costs 510 568 678 706 2,119 843 -------- -------- -------- -------- -------- -------- Earnings 29,552 15,792 25,265 21,841 12,173 13,457 -------- -------- -------- -------- -------- -------- Fixed charges: Interest expense 10,015 14,726 13,433 9,444 4,666 11,638 Amortization of deferred financing costs 510 568 678 706 2,119 843 -------- -------- -------- -------- -------- -------- Fixed charges 10,525 15,294 14,111 10,150 6,785 12,481 -------- -------- -------- -------- -------- -------- Ratio of Earnings to Cover Fixed Charges 2.8x 1.0x 1.8x 2.2x 1.8x 1.1x ======== ======== ======== ======== ======== ========