EX-12.1 2 l09320aexv12w1.htm EXHIBIT 12.1 EXHIBIT 12.1
 

Exhibit 12.1

GENERAL CABLE CORPORATION AND SUBSIDIARIES
Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Dividends
(in millions)

                                                 
    Six Months    
    Ended   Years Ended December 31,
    June 30, 2004   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
  $ 4.6     $ (1.2 )   $ (27.6 )   $ 58.1     $ (28.9 )   $ 55.4  
Preferred stock dividend (pre-tax equivalent)
    (4.5 )     (0.9 )                        
Fixed charges
    24.4       53.2       47.1       51.5       67.8       43.4  
 
   
 
     
 
     
 
     
 
     
 
     
 
 
TOTAL EARNINGS, AS DEFINED
  $ 24.5     $ 51.1     $ 19.5     $ 109.6     $ 38.9     $ 98.8  
 
   
 
     
 
     
 
     
 
     
 
     
 
 
FIXED CHARGES AND PREFERRED
DIVIDENDS, AS DEFINED
                                               
Interest expense
  $ 17.2     $ 44.9     $ 40.9     $ 43.2     $ 61.4     $ 39.0  
Amortization of capitalized expenses related to debt
    1.3       4.5       3.7       4.4       4.2       1.1  
Preferred stock dividend (pre-tax equivalent)
    4.5       0.9                          
Interest component of rent expense
    1.4       2.9       2.5       3.9       2.2       3.3  
 
   
 
     
 
     
 
     
 
     
 
     
 
 
TOTAL FIXED CHARGES AND PREFERRED DIVIDENDS, AS DEFINED
  $ 24.4     $ 53.2     $ 47.1     $ 51.5     $ 67.8     $ 43.4  
 
   
 
     
 
     
 
     
 
     
 
     
 
 
RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED DIVIDENDS
    1.0                   2.1             2.3  

For the years ended December 31, 2003, 2002 and 2000, earnings were insufficient to cover fixed charges and preferred dividends by $2.1 million $27.6 million and $28.9 million, respectively.