Exhibit 12.1
Computation of Ratio of Earnings to Fixed Charges
Blount International, Inc.
(Thousands of Dollars)
| | Six Months Ended | | | Year Ended December 31, | |
| | June 30, 2010 | | | 2009 | | | 2008 | | | 2007 | | | 2006 | | | 2005 | |
| | | | | | | | | | | | | | | | | | |
EARNINGS: | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | |
Earnings Before Income Taxes | | | 31,618 | | | | 31,933 | | | | 63,588 | | | | 48,173 | | | | 46,391 | | | | 53,958 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Interest Expense, Including Amortization of DebtIssuance Costs | | | | | | | | | | | | | | | | | | | | | | | | |
| | | 12,926 | | | | 24,707 | | | | 27,094 | | | | 33,066 | | | | 35,782 | | | | 37,329 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Interest Portion of Fixed Rent (1) | | | 216 | | | | 431 | | | | 439 | | | | 393 | | | | 505 | | | | 394 | |
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Undistributed Earnings of Unconsolidated Subsidiaries | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
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Earnings, as Adjusted | | | 44,760 | | | | 57,071 | | | | 91,121 | | | | 81,632 | | | | 82,678 | | | | 91,681 | |
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FIXED CHARGES: | | | | | | | | | | | | | | | | | | | | | | | | |
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Interest Expense, Including Amortization of DebtIssuance Costs | | | | | | | | | | | | | | | | | | | | | | | | |
| | | 12,926 | | | | 24,707 | | | | 27,094 | | | | 33,066 | | | | 35,782 | | | | 37,329 | |
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Capitalized Interest | | | 90 | | | | 292 | | | | 213 | | | | 403 | | | | 303 | | | | 406 | |
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Interest Portion of Fixed Rent (1) | | | 216 | | | | 431 | | | | 439 | | | | 393 | | | | 505 | | | | 394 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Fixed Charges | | | 13,232 | | | | 25,430 | | | | 27,746 | | | | 33,862 | | | | 36,590 | | | | 38,129 | |
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| | | | | | | | | | | | | | | | | | | | | | | | |
Ratio of earnings to fixed charges | | | 3.38 | | | | 2.24 | | | | 3.28 | | | | 2.41 | | | | 2.26 | | | | 2.40 | |
There were no dividends paid or accrued during the periods presented.
(1) The Company has included 20% of rent expense on operating leases. Management believes that 20% represents an appropriate implied interest factor for the Company's operating leases.