Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
EPIQ SYSTEMS, INC.
(In Thousands, except for Ratio)
|
| 2012 |
| 2011 |
| 2010 |
| 2009 |
| 2008 |
| |||||
Earnings |
|
|
|
|
|
|
|
|
|
|
| |||||
Net income |
| $ | 22,427 |
| $ | 12,080 |
| $ | 13,929 |
| $ | 14,595 |
| $ | 13,836 |
|
Income tax expense |
| 12,979 |
| 8,827 |
| 12,641 |
| 12,266 |
| 10,507 |
| |||||
Fixed charges |
| 13,089 |
| 9,651 |
| 5,335 |
| 4,023 |
| 3,505 |
| |||||
Earnings available for fixed charges |
| 48,495 |
| 30,558 |
| 31,905 |
| 30,884 |
| 27,848 |
| |||||
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|
|
|
|
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|
|
|
|
| |||||
Fixed Charges |
|
|
|
|
|
|
|
|
|
|
| |||||
Interest expense (1) |
| 8,767 |
| 5,204 |
| 1,537 |
| 1,160 |
| 1,331 |
| |||||
Interest capitalized |
| (220 | ) | — |
| — |
| — |
| — |
| |||||
Amortization of deferred loan charges |
| 716 |
| 640 |
| 393 |
| 314 |
| 426 |
| |||||
Estimated interest expense in leases |
| 3,826 |
| 3,807 |
| 3,405 |
| 2,549 |
| 1,748 |
| |||||
Total fixed charges |
| $ | 13,089 |
| $ | 9,651 |
| $ | 5,335 |
| $ | 4,023 |
| $ | 3,505 |
|
|
|
|
|
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|
|
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Ratio of Earnings to Fixed Charges |
| 3.7 |
| 3.2 |
| 6.0 |
| 7.7 |
| 7.9 |
|
(1) Interest expense excludes interest related to uncertain tax positions which is included in income tax expense shown above. Interest expense also excludes amortization of deferred loan charges and capitalized interest on assets under construction (which are each shown separately in the table above).