EX-12.1 10 l05803aexv12w1.txt EXHIBIT 12.1 EXHIBIT 12.1 GENERAL CABLE CORPORATION AND SUBSIDIARIES COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (IN MILLIONS)
Years ended December 31, ---------------------------------------------------- 2003 2002 2001 2000 1999 ---- ---- ---- ---- ---- 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 $(1.2) $(27.6) $ 58.1 $ (28.9) $55.4 Preferred stock dividend (pre-tax equivalent) (0.9) - - - - Fixed charges 53.2 47.1 51.5 67.8 43.4 ----- ------ -------- ------- ----- TOTAL EARNINGS, AS DEFINED $51.1 $ 19.5 $ 109.6 $ 38.9 $98.8 ===== ====== ======== ======= ===== FIXED CHARGES, AS DEFINED Interest expense $44.9 $ 40.9 $ 43.2 $ 61.4 $39.0 Amortization of capitalized expenses related to debt 4.5 3.7 4.4 4.2 1.1 Preferred stock dividend (pre-tax equivalent) 0.9 - - - - Interest component of rent expense 2.9 2.5 3.9 2.2 3.3 ----- ------ ------- ------- ----- TOTAL FIXED CHARGES, AS DEFINED $53.2 $ 47.1 $ 51.5 $ 67.8 $43.4 ===== ====== ======= ======= ===== RATIO OF EARNINGS TO FIXED CHARGES - - 2.1 - 2.3
For the years ended December 31, 2003, 2002 and 2000, earnings were insufficient to cover fixed charges by $2.1 million $27.6 million and $28.9 million, respectively.