EX-12.1 5 h16099exv12w1.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES exv12w1
 

EXHIBIT 12.1

COOPER CAMERON CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Amounts in millions of dollars)

                                                 
    Years ended December 31,
   
    1999
  2000
  2001
  2002
  2003
  3/31/2004
Pre-tax income from continuing operations
  $ 70.9     $ 43.8     $ 142.6     $ 85.1     $ 77.6     $ 24.3  
Equity adjustments:
                                               
Deduct undistributed income of less than 50% owned entities
          (0.2 )                 (0.2 )     (0.2 )
Amortization of capitalized interest
    0.2       0.2       0.2       0.2       0.2       0.1  
Less interest capitalized during the period
                (1.8 )     (0.4 )            
 
Fixed charges:
                                               
Interest, including amortization of debt issuance costs and original issue discount
    27.8       18.0       15.3       8.4       8.2       2.4  
Interest portion of rental expense (1)
    8.0       6.5       7.0       3.5       5.2       1.3  
 
   
 
     
 
     
 
     
 
     
 
     
 
 
Total fixed charges
    35.8       24.5       22.3       11.9       13.4       3.7  
 
   
 
     
 
     
 
     
 
     
 
     
 
 
Earnings before income taxes and fixed charges
  $ 106.9     $ 68.3     $ 163.3     $ 96.8     $ 91.0     $ 27.9  
 
   
 
     
 
     
 
     
 
     
 
     
 
 
Ratio of earnings to fixed charges
    3.0       2.8       7.3       8.1       6.8       7.5  
 
   
 
     
 
     
 
     
 
     
 
     
 
 

(1)   The portion of rent included in the calculation is believed to be a reasonable approximation of the interest factor.