EX-12.1 3 a03-3889_1ex12d1.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) from continuing operations before provision for income taxes, cumulative effect of change in accounting principle and extraordinary item

 

$

(10,383

)

$

(21,481

)

$

9,936

 

$

(8,050

)

$

(4,992

)

$

(6,151

)

Fixed charges

 

26,403

 

30,638

 

28,212

 

16,622

 

4,867

 

941

 

Total earnings (loss)

 

$

16,020

 

$

9,157

 

$

38,148

 

$

8,572

 

$

(125

)

$

(5,210

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

$

25,376

 

$

29,645

 

$

27,181

 

$

15,889

 

$

4,672

 

$

512

 

Interest component of rentals (2)

 

1,027

 

993

 

1,031

 

733

 

195

 

429

 

Total fixed charges

 

$

26,403

 

$

30,638

 

$

28,212

 

$

16,622

 

$

4,867

 

$

941

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio

 

—

 

—

 

1.4

x

—

 

—

 

—

 

Deficiency

 

$

10,383

 

$

21,481

 

$

—

 

$

8,050

 

$

4,992

 

$

6,151

 

 

(1)                                  None capitalized.

 

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