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- S-4 Registration of securities issued in business combination transactions
- 3.2 Exhibit 3.2
- 3.3 Exhibit 3.3
- 3.4 Exhibit 3.4
- 4.1 Exhibit 4.1
- 4.2 Exhibit 4.2
- 4.3 Exhibit 4.3
- 4.4 Exhibit 4.4
- 10.1 Exhibit 10.1
- 10.2 Exhibit 10.2
- 10.3 Exhibit 10.3
- 10.4 Exhibit 10.4
- 10.5 Exhibit 10.5
- 10.6 Exhibit 10.6
- 10.7 Exhibit 10.7
- 10.10 Exhibit 10.10
- 10.12 Exhibit 10.12
- 10.13 Exhibit 10.13
- 10.14 Exhibit 10.14
- 10.15 Exhibit 10.15
- 12.1 Exhibit 12.1
- 21.1 Exhibit 21.1
- 23.2 Exhibit 23.2
- 25.1 Exhibit 25.1
- 99.1 Exhibit 99.1
- 99.2 Exhibit 99.2
- 99.3 Exhibit 99.3
- 99.4 Exhibit 99.4
- 99.5 Exhibit 99.5
- 8 Jun 05 Registration of securities issued in business combination transactions (amended)
- 19 Apr 05 Registration of securities issued in business combination transactions (amended)
- 12 Nov 04 Registration of securities issued in business combination transactions (amended)
- 23 Jun 04 Registration of securities issued in business combination transactions
Exhibit 12.1
Atlantic Express Transportation Corp
Computation of Ratio of Earnings to Fixed Charges (1)
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| Year ended June 30, 2001 |
| Year ended June 30, 2002 |
| Year ended June 30, 2003 |
| 9 months ended March 31, 2003 |
| 9 months ended March 31, 2004 |
| 9 months ended March 31, 2004 (pro forma) |
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Earnings |
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Income (loss) before income taxes |
| $ | (11.3 | ) | $ | (43.9 | ) | $ | (16.0 | ) | $ | (15.0 | ) | $ | 33.5 |
| $ | 19.7 |
|
Plus: fixed charges |
| 25.1 |
| 25.0 |
| 13.5 |
| 9.9 |
| 10.8 |
| 15.3 |
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| $ | 13.8 |
| $ | (18.9 | ) | $ | (2.5 | ) | $ | (5.1 | ) | $ | 44.3 |
| $ | 35.0 |
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Fixed Charges |
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Interest charges |
| $ | 24.6 |
| $ | 24.3 |
| $ | 12.9 |
| $ | 9.7 |
| $ | 10.6 |
| $ | 15.1 |
|
Plus interest factor in operating rent.expense |
| 0.5 |
| 0.7 |
| 0.6 |
| 0.2 |
| 0.2 |
| 0.2 |
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|
| $ | 25.1 |
| $ | 25.0 |
| $ | 13.5 |
| $ | 9.9 |
| $ | 10.8 |
| $ | 15.3 |
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Ratio of earnings to fixed charges (excess of fixed charges over earnings) |
| $ | (11.3 | ) | $ | (43.9 | ) | $ | (16.0 | ) | $ | (15.0 | ) | 4.1x |
| 2.3x |
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(1) | The calculation excludes certain contractual interest of $11.8 million, $8.4 million, and $6.5 million, as those amounts were not recorded as interest expense for the year ended June 30, 2003 and the nine months ended March 31, 2003 and March 31, 2004, respectively, in the financial statements. |