Exhibit 12
STRATUS TECHNOLOGIES, INC.
Ratio of Earnings to Fixed Charges
(Thousands of Dollars)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Description
| | Nine
month ended
11/23/2003
| | Proforma
Nine
month ended
11/23/2003
| | | Nine
month ended
11/24/2002
| | | Proforma
Year ended
2/23/2003
| | | Year ended
2/23/2003
| | | Year ended
2/24/2002
| | | Year ended
2/25/2001
| | | Year ended
2/27/2000
| |
Earnings as defined (a) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Income (loss) before income taxes, dividends on trust preferred securities, discontinued operations & extraordinary items | | $ | 1,918 | | $ | (2,599 | ) | | $ | (5,855 | ) | | $ | (10,788 | ) | | $ | (2,809 | ) | | $ | (44,038 | ) | | $ | (15,702 | ) | | $ | (8,354 | ) |
Fixed charges as defined | | | 12,754 | | | 17,271 | | | | 10,478 | | | | 21,980 | | | | 14,001 | | | | 13,310 | | | | 9,173 | | | | 8,513 | |
| | |
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Earnings as defined | | $ | 14,672 | | $ | 14,672 | | | $ | 4,623 | | | $ | 11,192 | | | $ | 11,192 | | | $ | (30,728 | ) | | $ | (6,529 | ) | | $ | 159 | |
| | |
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Fixed charges as defined (a) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Interest expense | | $ | 7,469 | | $ | 14,112 | | | $ | 7,240 | | | $ | 18,021 | | | $ | 9,673 | | | $ | 9,712 | | | $ | 5,894 | | | $ | 5,436 | |
Amortization of debt expense (b) | | | 2,681 | | | 1,184 | | | | 1,206 | | | | 1,578 | | | | 1,619 | | | | 1,150 | | | | 827 | | | | 797 | |
Amortized premiums (b) | | | 629 | | | — | | | | 246 | | | | — | | | | 328 | | | | — | | | | — | | | | — | |
Estimate of interest within rental expense | | | 1,975 | | | 1,975 | | | | 1,786 | | | | 2,381 | | | | 2,381 | | | | 2,448 | | | | 2,452 | | | | 2,280 | |
| | |
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Fixed charges as defined | | $ | 12,754 | | $ | 17,271 | | | $ | 10,478 | | | $ | 21,980 | | | $ | 14,001 | | | $ | 13,310 | | | $ | 9,173 | | | $ | 8,513 | |
| | |
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Insufficient earnings to cover fixed charges | | | — | | $ | 2,599 | | | $ | 5,855 | | | $ | 10,788 | | | $ | 2,809 | | | $ | 44,038 | | | $ | 15,702 | | | $ | 8,354 | |
| | | | | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Ratio of earnings to fixed charges | | | 1.15 | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | |
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Notes:
| (a) | Earnings and fixed charges as defined in instructions to Item 503(d) of Regulation S-K. |
| (b) | The twelve-month and nine-month period ended November 23, 2003 includes the write off of the remaining balance related to the Former Credit Facility. |
