EX-12.1 5 d842553dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

NN, Inc.

Computation of Ratio of Earnings to Fixed Charges

For Fiscal Years Ended December 31, 2009 through 2013

For Nine Months Ended September 30, 2014

(in thousands except ratio amounts)

 

    

For Nine Months

Ended

September 30,

    For Fiscal Years Ended December 31,  
     2014     2013     2012     2011     2010     2009  

Earnings:

            

Income before provision for income taxes

   $ 10,621      $ 25,178      $ 20,341      $ 26,105      $ 10,985      $ (37,624

Distributed income of equity investees

     2,538        —          —          —          —          —     

Fixed charges

     8,843        4,699        6,253        7,896        10,968        11,162   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Adjusted Earnings

   $ 22,002      $ 29,877      $ 26,594      $ 34,001      $ 21,953      $ (26,462
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Fixed Charges:

            

Interest expense

   $ 4,841      $ 1,827      $ 3,054      $ 3,906      $ 5,400      $ 5,212   

Amortization of debt issuance costs

     1,896        547        824        809        1,415        1,147   

Rent expense

     2,106        2,325        2,375        3,181        4,153        4,803   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Fixed Charges

   $ 8,843      $ 4,699      $ 6,253      $ 7,896      $ 10,968      $ 11,162   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Ratio of Earnings to Fixed Charges

     2.49 x(1)      6.36     4.26     4.31     2.01     x(2) 
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

(1) The nine months ended September 30, 2014 were significantly impacted by certain costs related to four acquisitions completed in 2014.
(2) Additional earnings of $37.6 million would have been needed to achieve a coverage of 1:1 for the year ended December 31, 2009.