EX-12.1 3 l06689aexv12w1.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.