EX-12.1 7 j8732_ex12d1.htm EX-12.1

Exhibit 12.1

 

DeCrane Aircraft Holdings, Inc.

Computation of Earnings to Fixed Charges Ratios

 

 

 

Year Ended December 31,

 

 

 

 

 

 

 

 

 

 

 

1998

 

(Dollars in thousands)

 

2002

 

2001

 

2000

 

1999

 

Four Months
Ended
December 31,
1998

 

Eight Months
Ended
August 31,
1998

 

 

 

 

 

 

 

(Successor)

 

 

 

 

 

(Predecessor)

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) before provision for income taxes, cumulative effect of change in accounting principle and extraordinary item

 

$

(8,482

)

$

(12,814

)

$

9,884

 

$

(3,418

)

$

(2,992

)

$

6,081

 

Minority interest in income of subsidiary with fixed charges

 

215

 

148

 

228

 

197

 

82

 

48

 

Fixed charges

 

35,357

 

40,410

 

42,923

 

29,123

 

7,217

 

3,117

 

Total earnings

 

$

27,090

 

$

27,744

 

$

53,035

 

$

25,902

 

$

4,307

 

$

9,246

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense, including amortization of debt discounts and issuance costs(1)

 

$

33,894

 

$

39,001

 

$

41,623

 

$

27,918

 

$

6,852

 

$

2,350

 

Interest component of rentals(2)

 

1,463

 

1,409

 

1,300

 

1,205

 

365

 

767

 

Total fixed charges

 

$

35,357

 

$

40,410

 

$

42,923

 

$

29,123

 

$

7,217

 

$

3,117

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio

 

—

 

—

 

1.2

x

—

 

—

 

3.0

x

Deficiency

 

$

8,267

 

$

12,666

 

$

—

 

$

3,221

 

$

2,910

 

$

—

 

 

(1)                      None capitalized.

(2)                      Reflects one-third of rental expense under operating leases considered to represent interest costs.