Exhibit 12.1
TRIUMPH GROUP, INC
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in thousands, except ratios)
(Unaudited)
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| Historical |
| Pro Forma Combined |
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| Six Months |
| Fiscal Year |
| Six Months |
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| Ended |
| Ended |
| Ended |
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| Fiscal Year Ended March 31, |
| September 30, |
| March 31, |
| September 30, |
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| 2002 |
| 2003 |
| 2004 |
| 2005 |
| 2006 |
| 2006 |
| 2006 |
| 2006 |
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Earnings from continuing operations before income taxes and minority interest |
| $ | 71,337 |
| $ | 58,258 |
| $ | 24,401 |
| $ | 20,405 |
| $ | 43,568 |
| $ | 34,054 |
| $ | 48,101 |
| $ | 36,615 |
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Add amortization of capitalized interest |
| 38 |
| 64 |
| 93 |
| 93 |
| 93 |
| 47 |
| 93 |
| 47 |
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Add interest expense |
| 13,210 |
| 12,501 |
| 12,119 |
| 12,747 |
| 12,501 |
| 7,527 |
| 7,968 |
| 4,967 |
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Less interest capitalized |
| (377 | ) | (264 | ) | (291 | ) | — |
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Add interest on rental expense |
| 3,658 |
| 4,655 |
| 4,946 |
| 4,827 |
| 4,512 |
| 2,343 |
| 4,512 |
| 2,343 |
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Earnings |
| $ | 87,866 |
| $ | 75,214 |
| $ | 41,268 |
| $ | 38,072 |
| $ | 60,674 |
| $ | 43,971 |
| $ | 60,674 |
| $ | 43,971 |
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Interest Expense |
| $ | 13,210 |
| $ | 12,501 |
| $ | 12,119 |
| $ | 12,747 |
| $ | 12,501 |
| $ | 7,527 |
| $ | 7,968 |
| $ | 4,967 |
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interest portion of rental expense |
| 3,658 |
| 4,655 |
| 4,946 |
| 4,827 |
| 4,512 |
| 2,343 |
| 4,512 |
| 2,343 |
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Fixed Charges |
| 16,868 |
| 17,156 |
| 17,065 |
| 17,574 |
| 17,013 |
| 9,870 |
| 12,480 |
| 7,310 |
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Ratio of Earnings to Fixed Charges |
| 5.21 |
| 4.38 |
| 2.42 |
| 2.17 |
| 3.57 |
| 4.45 |
| 4.86 |
| 6.02 |
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