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Exhibit 12.1
PRECISION CASTPARTS CORP.
RATIO OF EARNINGS TO FIXED CHARGES
($000s)
| | | | | | Nine Months Ended | ||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Fiscal Years | |||||||||||||||||||||
| December 29, 2002 | December 28, 2003 | ||||||||||||||||||||
| 1999 | 2000 | 2001 | 2002 | 2003 | |||||||||||||||||
Earnings before income taxes | $ | 156.6 | $ | 139.3 | $ | 211.7 | $ | 178.8 | $ | 246.3 | $ | 192.8 | $ | 147.2 | ||||||||
Fixed charges: | ||||||||||||||||||||||
Interest and other financial charges | 27.2 | 47.2 | 81.7 | 67.3 | 56.9 | 43.3 | 38.7 | |||||||||||||||
Interest capitalized | 2.0 | 1.2 | 2.3 | 1.8 | 1.0 | 0.8 | 1.0 | |||||||||||||||
One-third of rental expense (a) | 2.2 | 2.6 | 2.9 | 3.7 | 3.7 | 2.7 | 3.1 | |||||||||||||||
31 | 51 | 87 | 73 | 62 | 47 | 43 | ||||||||||||||||
Adjusted earnings | $ | 188.0 | $ | 190.3 | $ | 298.6 | $ | 251.6 | $ | 307.9 | $ | 239.6 | $ | 190.0 | ||||||||
Ratio of earnings to fixed charges (b) | 5.9 | 3.7 | 3.4 | 3.4 | 5.0 | 5.1 | 4.4 | |||||||||||||||
- (a)
- Considered to be representative of interest factor in rental expense.
- (b)
- Adjusted earnings less interest capitalized divided by fixed charges
PRECISION CASTPARTS CORP. RATIO OF EARNINGS TO FIXED CHARGES ($000s)