EX-12.1 140 a2108740zex-12_1.txt EXHIBIT 12.1 Exhibit 12.1 CASELLA WASTE SYSTEMS, INC. STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (IN THOUSANDS, EXCEPT RATIOS)
YEAR ENDED APRIL 30, ----------------------------------------- -------- 1999 2000 2001 2002 2003 -------- -------- -------- -------- -------- FIXED CHARGE COVERAGE RATIO: Income (loss) from continuing operations before income taxes, discontinued operations, extraordinary loss and cumulative effect of change in accounting principle..................... $13,665 $23,121 $(114,001) $15,798 $11,520 Undistributed earnings and minority interests........ -- 502 1,026 (154) (152) (Gain) / loss in equity method investees............. -- 1,062 26,256 (1,899) (2,073) Distributed income of equity method investees........ -- -- -- 500 2,000 Fixed charges........................................ 6,171 17,547 41,961 31,888 27,291 Less: interest capitalized........................... (530) (640) (373) (437) (719) ------- ------- -------- ------- ------- Earnings (loss)...................................... $19,306 $41,592 $(45,131) $45,696 $37,867 ------- ------- -------- ------- ------- Interest expense (includes amortization of deferred financing charges)................................. $ 5,641 $16,907 $ 41,588 $31,451 $26,572 Interest capitalized................................. 530 640 373 437 719 ------- ------- -------- ------- ------- Fixed charges........................................ $ 6,171 $17,547 $ 41,961 $31,888 $27,291 ------- ------- -------- ------- ------- Ratio of earnings to fixed charges................... 3.13 2.37 -- 1.43 1.39 ------- ------- -------- ------- ------- PROFORMA FIXED CHARGE COVERAGE RATIO: Proforma income from continuing operations before income taxes, discontinued operations, extraordinary item and cumulative effect of change in accounting principle............................ $11,520 Undistributed earnings and minority interests........ (152) Gain in equity method investees...................... (2,073) Distributed income of equity method investees........ 2,000 Proforma fixed charges............................... 25,642 Less: interest capitalized........................... (719) ------- Proforma earnings.................................... $36,218 ------- Proforma interest expense (includes amortization of deferred financing charges)........................ $24,923 Interest capitalized................................. 719 ------- Proforma fixed charges............................... $25,642 ------- Ratio of proforma earnings to proforma fixed charges............................................ 1.41 -------