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GENCORP
RATIO OF EARNINGS TO FIXED CHARGES
| | | | | | | | | | Pro Forma reflecting this offering and the Acquisition of the ARC Propulsion Business Nine months ended August 31, 2003 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | | | | | | Nine months ended August 31, | | |||||||||||
| | Year ended November 30, | Pro Forma reflecting this offering and the Acquisition of the ARC Propulsion Business Year ended November 30, 2002 | ||||||||||||||||
| | 1998 | 1999 | 2000 | 2001 | 2002 | 2002 | 2003 | |||||||||||
| Income from continuing operations before income taxes | 60 | 74 | 87 | 187 | 42 | 27 | 13 | 43 | 17 | |||||||||
| Earnings of non-consolidated subsidiaries | ||||||||||||||||||
| Minority Interest | — | — | (3 | ) | (4 | ) | 1 | 0 | 1 | 1 | 1 | |||||||
| Fixed charges | 8 | 7 | 20 | 39 | 23 | 16 | 23 | 43 | 32 | |||||||||
| Earnings available for fixed charges | 68 | 81 | 104 | 222 | 66 | 43 | 37 | 87 | 50 | |||||||||
Fixed Charges | ||||||||||||||||||
| Amortization of debt issuance costs | — | — | — | 3 | 4 | 3 | 4 | 5 | 4 | |||||||||
| Interest Expense | 6 | 6 | 18 | 33 | 16 | 11 | 17 | 35 | 25 | |||||||||
| Portion of Rent Expense representing Interest | 2 | 1 | 2 | 3 | 3 | 2 | 2 | 3 | 3 | |||||||||
| Total Fixed Charges | 8 | 7 | 20 | 39 | 23 | 16 | 23 | 43 | 32 | |||||||||
| Ratio of Earnings to Fixed Charges | 8.5 | 11.6 | 5.2 | 5.7 | 2.9 | 2.7 | 1.6 | 2.0 | 1.6 | |||||||||