EX-12.1 44 file043.txt STATEMENT OF COMPUTATION OF RATIO OF EARNINGS EXHIBIT 12.1 Jarden Corporation Computation of Ratio of Earnings to Fixed Charges (in millions)
--------------------------------------------------------------------------------------------- FOR THE THREE MONTHS FOR THE YEAR ENDED DECEMBER 31, ENDED MARCH 31, --------------------------------------------------------------------------------------------- ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL PRO FORMA ACTUAL PRO FORMA 1997 1998 1999 2000 2001 2001 2002 2002 ----------- ---------- ----------- ----------- ----------- ---------- ----------- ----------- Earnings: Net income (loss) $ 14.8 $ 15.7 $ 29.2 $ 4.9 $ (85.4) $ 20.3 $ 7.2 $ 8.6 Plus: Income tax provision (benefit) 10.6 10.8 19.5 2.4 (40.4) 10.9 (4.3) (3.4) Minority interest in gain (loss) of consolidated subsidiary (0.3) 0.2 Extraordinary loss from early extinguishment of debt (net of income taxes) 1.0 Fixed charges 2.7 2.3 9.6 13.3 13.4 22.4 1.5 4.8 ------- ------- ------- ------- ------- ------- ------- ------- Numerator-earnings available for fixed charges $ 28.1 $ 28.8 $ 59.3 $ 20.3 $(112.2) $ 53.6 $ 4.4 $ 10.0 ======= ======= ======= ======= ======= ======= ======= ======= Fixed charges: Interest component of rental expense $ 0.4 $ 0.5 $ 1.2 $ 1.4 $ 1.6 $ 2.4 $ 0.3 $ 0.3 Interest expense 2.3 1.8 8.4 11.9 11.8 20.0 1.2 4.5 ------- ------- ------- ------- ------- ------- ------- ------- Denominator-fixed charges $ 2.7 $ 2.3 $ 9.6 $ 13.3 $ 13.4 $ 22.4 $ 1.5 $ 4.8 ======= ======= ======= ======= ======= ======= ======= ======= ------- ------- ------- ------- ------- ------- ------- ------- Ratio of earnings to fixed charges 10.5 12.4 6.2 1.5 * 2.4 3.0 2.1 ======= ======= ======= ======= ======= ======= ======= =======
* For the actual year ended December 31, 2001, the calculated ratio of earnings to fixed charges is less than one-to-one and represents a deficiency of approximately $125.6 million.