Triumph (TGI) S-3ASR Automatic shelf registration

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Exhibit 12.1

TRIUMPH GROUP, INC.
Computation of Ratio of Earnings to Fixed Charges and Preferred Stock Dividends⁽¹⁾
(in thousands)

		Fiscal year ended March 31,
		2011			2010		2009		2008		2007
EARNINGS AS DEFINED
Income from continuing operations, before in-come taxes		$	234,477		$	126,455	$	135,865	$	106,383	$	74,004
Fixed charges			96,059			35,296		26,334		27,646		22,111
Less: Interest capitalized			(1,289	)		—		—		—		—
Plus: Amortization of capitalized interest			—			—		—		—		—
	TOTAL EARNINGS, AS DEFINED	$	329,247		$	161,751	$	162,199	$	134,029	$	96,115
FIXED CHARGES, AS DEFINED
Interest expense		$	67,604		$	21,915	$	13,388	$	14,351	$	12,572
Interest capitalized			1,289			—		—		—		—
Interest portion of rental expenses			15,352			5,234		5,054		5,154		4,603
Amortization of capitalized expenses related to debt			4,205			1,951		1,685		2,289		2,287
Accretion of debt discount			7,609			6,196		6,207		5,852		2,649
	TOTAL FIXED CHARGES, AS DEFINED	$	96,059		$	35,296	$	26,334	$	27,646	$	22,111
	RATIO OF EARNINGS TO FIXED CHARGES		3.4			4.6		6.2		4.8		4.3

(1)

There was no preferred stock outstanding for each of the periods indicated.

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Exhibit 12.1

TRIUMPH GROUP, INC. Computation of Ratio of Earnings to Fixed Charges and Preferred Stock Dividends⁽¹⁾ (in thousands)