Exhibit 12
Alliant Techsystems Inc.
Statement Re: Computation of Ratio
of Earnings to Fixed Charges
(dollars in thousands)
|
| Nine MonthsEnded , |
| Fiscal Year Ended March 31, |
| |||||||||||||||||
|
| December 31, |
| January 1, |
| 2006 |
| 2005 |
| 2004 |
| 2003 |
| 2002 |
| |||||||
Earnings: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Income from operations before taxes |
| $ | 200,225 |
| $ | 185,845 |
| $ | 227,557 |
| $ | 220,540 |
| $ | 217,796 |
| $ | 197,477 |
| $ | 121,334 |
|
Plus fixed charges |
| 61,126 |
| 57,358 |
| 110,017 |
| 73,201 |
| 67,223 |
| 85,087 |
| 108,207 |
| |||||||
Earnings |
| $ | 261,351 |
| $ | 243,203 |
| $ | 337,574 |
| $ | 293,741 |
| $ | 285,019 |
| $ | 282,564 |
| $ | 229,541 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Fixed Charges: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Interest expense, including amortization of debt issue costs |
| $ | 54,241 |
| $ | 51,703 |
| $ | 100,837 |
| $ | 65,382 |
| $ | 60,327 |
| $ | 79,495 |
| $ | 103,547 |
|
Estimated interest factor of rental expense |
| 6,885 |
| 5,655 |
| 9,180 |
| 7,819 |
| 6,896 |
| 5,592 |
| 4,660 |
| |||||||
Fixed Charges |
| $ | 61,126 |
| $ | 57,358 |
| $ | 110,017 |
| $ | 73,201 |
| $ | 67,223 |
| $ | 85,087 |
| $ | 108,207 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Ratio of Earnings to Fixed Charges(1) |
| 4.28 |
| 4.24 |
| 3.07 |
| 4.01 |
| 4.24 |
| 3.32 |
| 2.12 |
| |||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Rent expense |
| 43,492 |
| 35,726 |
| 57,989 |
| 49,396 |
| 43,563 |
| 35,326 |
| 29,437 |
| |||||||
Percent of rent expense that represents interest |
| 16 | % | 16 | % | 16 | % | 16 | % | 16 | % | 16 | % | 16 | % | |||||||
(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.
