EX-12.1 33 l05578aexv12w1.txt EXHIBIT 12.1 . . . EXHIBIT 12.1 GENERAL CABLE CORPORATION AND SUBSIDIARIES COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES MILLIONS OF DOLLARS
YEARS ENDED DECEMBER 31, NINE MONTHS ENDED SEPTEMBER 30, --------------------------------------------- ------------------------------- 2002 2001 2000 1999 1998 2002 2003 ------- -------- ------- ------- ------- ------- ------- EARNINGS AS DEFINED Earnings (loss) from operations before income taxes and before adjustments for minority interests in consolidated subsidiaries and after eliminating undistributed earnings of equity method investees $ (27.6) $ 58.1 $ (28.9) $ 55.4 $ 68.4 $ (16.5) $ 8.0 Fixed Charges 47.1 51.5 67.8 43.4 12.4 33.7 34.9 ------- -------- ------- ------- ------- ------- ------- TOTAL EARNINGS, AS DEFINED $ 19.5 $ 109.6 $ 38.9 $ 98.8 $ 80.8 $ 17.2 $ 42.9 ======= ======== ======= ======= ======= ======= ======= FIXED CHARGES, AS DEFINED Interest expense $ 40.9 $ 43.2 $ 61.4 $ 39.0 $ 10.5 $ 30.1 $ 29.8 Amortization of capitalized expenses related to debt 3.7 4.4 4.2 1.1 - 1.8 3.3 Interest component of rent expense 2.5 3.9 2.2 3.3 1.9 1.8 1.8 ------- -------- ------- ------- ------- ------- ------- TOTAL FIXED CHARGES, AS DEFINED $ 47.1 $ 51.5 $ 67.8 $ 43.4 $ 12.4 $ 33.7 $ 34.9 ======= ======== ======= ======= ======= ======= ======= RATIO OF EARNINGS TO FIXED CHARGES 0.4 2.1 0.6 2.3 6.5 0.5 1.2
For the years ended December 31, 2000 and 2002 and the nine months ended September 30, 2002, earnings were insufficient to cover fixed charges by $28.9 million, $27.6 million and $16.5 million, respectively.