Lennox International (LII) 10-Q2005 Q1 Quarterly report

Filed: 9 May 05, 12:00am

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Exhibit 12.1

LENNOX INTERNATIONAL INC. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(UNAUDITED)


													For the Three
													Months Ended
	For the Years Ended December 31,												March 31,
(In millions, except ratio)	2004			2003		2002		2001			2000		2005

EARNINGS AS DEFINED:

Income (loss) before income taxes, cumulative effect of accounting change, minority interest and income or loss from equity investees	$	(124.9	)	$	126.5	$	74.4	$	(44.3	)	$	100.6	$	5.7

Fixed charges	$	52.3		$	52.8	$	59.5	$	69.2		$	81.7	$	9.6


Earnings as defined	$	(72.6	)	$	179.3	$	133.9	$	24.9		$	182.3		15.3


FIXED CHARGES AS DEFINED:

Interest expense, including amortization of deferred finance charges	$	32.3		$	32.0	$	36.5	$	45.9		$	59.3	$	6.0

Portion of rental expense representative of the interest factor	$	20.0		$	20.8	$	23.8	$	23.3		$	22.4	$	3.6


Fixed charges as defined	$	52.3		$	52.8	$	60.3	$	69.2		$	81.7	$	9.6


RATIO OF EARNINGS TO FIXED CHARGES^{(1), (2)}		—			3.40		2.22		—			2.23		1.59

(1)		Due to impairment costs associated with the Company’s Service Experts segment in 2004 of $225.9 million , additional earnings of $124.9 million would have been necessary to cover fixed charges.

(2)		Due to restructuring charges in 2001 of $73.2 million (of which $7.8 million was included in cost of goods sold), additional earnings of $44.3 million would have been necessary to cover fixed charges.