Exhibit 12.1
Polypore International, Inc.
Ratio of Earnings to Fixed Charges
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| Predecessor |
| Successor |
| Pro Forma |
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(in millions) |
| 1999 |
| 2000 |
| 2001 |
| 2002 |
| 2003 |
| January 4, 2004 |
| May 2, 2004 |
| Year End |
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Earnings: |
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Pretax income before extraordinary items and cumulative effect of accounting changes |
| $ | 15,800 |
| $ | 35,499 |
| $ | 39,632 |
| $ | 28,234 |
| $ | 64,094 |
| $ | 40,518 |
| $ | (27,918 | ) | $ | 2,997 |
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Fixed charges |
| 10,209 |
| 19,563 |
| 15,398 |
| 21,961 |
| 22,828 |
| 6,587 |
| 43,315 |
| 78,980 |
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Earnings as adjusted |
| $ | 26,009 |
| $ | 55,062 |
| $ | 55,030 |
| $ | 50,195 |
| $ | 86,922 |
| $ | 47,105 |
| $ | 15,397 |
| $ | 81,977 |
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Fixed charges: |
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All interest, whether capitalized or expensed (exclude interest income) |
| $ | 10,123 |
| $ | 18,193 |
| $ | 14,125 |
| $ | 20,862 |
| $ | 21,521 |
| $ | 6,048 |
| $ | 42,098 |
| $ | 77,225 |
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Interest portion of rental expense |
| 86 |
| 1,370 |
| 1,273 |
| 1,099 |
| 1,307 |
| 539 |
| 1,217 |
| 1,755 |
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Fixed charges |
| $ | 10,209 |
| $ | 19,563 |
| $ | 15,398 |
| $ | 21,961 |
| $ | 22,828 |
| $ | 6,587 |
| $ | 43,315 |
| $ | 78,980 |
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Fixed charges ratio |
| 2.6 |
| 2.8 |
| 3.6 |
| 2.3 |
| 3.8 |
| 7.2 |
| 0.4 |
| 1.0 |
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For purposes of computing the ratio of earnings to fixed chares, earnings consist of earnings before income taxes plus fixed chares. Fixed charges consist of interest expense, amortization of debt issuance costs and the portion of rental expense that management believes is representative of the interest component of rental expense.