Exhibit 12.1
Alliant Techsystems Inc.
Statement Re: Computation of Ratios
(dollars in thousands)
|
| 2000 |
| 2001 |
| 2002 |
| 2003 |
| 2004 |
| 1Q FY 2005 |
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Earnings: |
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Income from operations before taxes |
| $ | 87,230 |
| $ | 103,394 |
| $ | 121,334 |
| $ | 197,477 |
| $ | 217,796 |
| $ | 43,451 |
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Plus fixed charges |
| 35,210 |
| 35,071 |
| 105,608 |
| 81,968 |
| 63,376 |
| 15,797 |
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Earnings |
| $ | 122,440 |
| $ | 138,465 |
| $ | 226,942 |
| $ | 279,445 |
| $ | 281,172 |
| $ | 59,248 |
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Fixed Charges: |
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Interest expense, including amortization of debt issue costs |
| $ | 33,999 |
| $ | 33,738 |
| $ | 103,547 |
| $ | 79,495 |
| $ | 60,327 |
| $ | 14,983 |
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Estimated interest factor of rental expense |
| 1,211 |
| 1,333 |
| 2,061 |
| 2,473 |
| 3,049 |
| 814 |
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Fixed Charges |
| $ | 35,210 |
| $ | 35,071 |
| $ | 105,608 |
| $ | 81,968 |
| $ | 63,376 |
| $ | 15,797 |
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Ratio of Earnings to Fixed Charges(1) |
| 3.48x |
| 3.95x |
| 2.15x |
| 3.41x |
| 4.44x |
| 3.75x |
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Implied interest rate on rent |
| 8.0% |
| 8.0% |
| 7.0% |
| 7.0% |
| 7.0% |
| 7.0% |
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(1) For purposes of calculating the ratio of earnings to fixed charges, “earnings” represents income from continuing operations before income taxes, plus fixed charges. “Fixed charges” consist of interest expense, including amortization of debt issuance costs and that portion of rental expense considered to be a reasonable approximation of interest.
