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DeCrane Aircraft Holdings, Inc.
Computation of Earnings to Fixed Charges Ratios
| | | Year Ended December 31, | |||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | | | | | | 1998 | |||||||||||||||||||
| Three Months Ended March 31, | | | | | |||||||||||||||||||||
| | | | | Four Months Ended December 31, 1998 | Eight Months Ended August 31, 1998 | ||||||||||||||||||||
| 2003 | 2002 | 2002 | 2001 | 2000 | 1999 | ||||||||||||||||||||
| (Successor) | (Predecessor) | ||||||||||||||||||||||||
| (In thousands) | |||||||||||||||||||||||||
Historical: | ||||||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||||
Loss from continuing operations before provision for income taxes, cumulative effect of change in accounting principle and extraordinary item | $ | (5,127 | ) | $ | (3,673 | ) | $ | (15,231 | ) | $ | (27,470 | ) | $ | (1,163 | ) | $ | (16,653 | ) | $ | (5,301 | ) | $ | (5,734 | ) | ||
Fixed charges | 7,891 | 8,018 | 34,123 | 39,077 | 41,549 | 27,497 | 6,606 | 2,018 | ||||||||||||||||||
Total earnings (loss) | $ | 2,764 | $ | 4,345 | $ | 18,892 | $ | 11,607 | $ | 40,386 | $ | 10,844 | $ | 1,305 | $ | (3,716 | ) | |||||||||
Fixed Charges: | ||||||||||||||||||||||||||
Interest expense, including amortization of debt discounts and issuance costs(1) | $ | 7,675 | $ | 7,759 | $ | 33,096 | $ | 38,084 | $ | 40,518 | $ | 26,764 | $ | 6,411 | $ | 1,589 | ||||||||||
Interest component of rentals(2) | 216 | 259 | 1,027 | 993 | 1,031 | 733 | 195 | 429 | ||||||||||||||||||
Total fixed charges | $ | 7,891 | $ | 8,018 | $ | 34,123 | $ | 39,077 | $ | 41,549 | $ | 27,497 | $ | 6,606 | $ | 2,018 | ||||||||||
Ratio of Earnings to Fixed Charges: | ||||||||||||||||||||||||||
Ratio | — | — | — | — | — | — | — | — | ||||||||||||||||||
Deficiency | $ | 5,127 | $ | 3,673 | $ | 15,231 | $ | 27,470 | $ | 1,163 | $ | 16,653 | $ | 5,301 | $ | 5,734 | ||||||||||
Pro Forma: | ||||||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||||
Loss from continuing operations before provision for income taxes, cumulative effect of change in accounting principle and extraordinary item | $ | (4,759 | ) | $ | (12,729 | ) | ||||||||||||||||||||
Fixed charges | 6,816 | 28,749 | ||||||||||||||||||||||||
Total earnings | $ | 2,057 | $ | 16,020 | ||||||||||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||||
Interest expense, including amortization of debt discounts and issuance costs(1) | $ | 6,600 | $ | 27,722 | ||||||||||||||||||||||
Interest component of rentals(2) | 216 | 1,027 | ||||||||||||||||||||||||
Total fixed charges | $ | 6,816 | $ | 28,749 | ||||||||||||||||||||||
Ratio of Earnings to Fixed Charges: | ||||||||||||||||||||||||||
Ratio | — | — | ||||||||||||||||||||||||
Deficiency | $ | 4,759 | $ | 12,729 |
- (1)
- None capitalized.
- (2)
- Reflects one-third of rental expense under operating leases considered to represent interest costs.
DeCrane Aircraft Holdings, Inc. Computation of Earnings to Fixed Charges Ratios