EXHIBIT 12.1
Indalex Holdings Finance, Inc.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in thousands)
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| Predecessor 1 |
| Predecessor 2 |
| Predecessor 1 |
| Predecessor 2 |
| Successor |
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| Fiscal Year Ended |
| Nine Months Ended |
| Nine Months Ended |
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| December 31, 2005 |
| October 2, 2005 |
| October 1, 2006 |
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| Fiscal Year Ended |
| Period from |
| Period from |
| Period from |
| Period from |
| Period from |
| Period from |
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| December 30, |
| December 29, |
| December 31, |
| December 31, |
| March 31, |
| December 31, |
| March 31, |
| October 2, |
| February 1. |
| October 1, |
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| 2001 |
| 2002 |
| 2003 |
| 2004 |
| 2005 |
| 2005 |
| 2005 |
| 2005 |
| 2006 |
| 2006 |
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Earnings: |
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Pre-tax income (loss) from continuing operations |
| $ | (69,266 | ) | $ | 22,014 |
| $ | 22,049 |
| $ | 37,443 |
| $ | 10,372 |
| $ | 15,612 |
| $ | 10,372 |
| $ | 4,454 |
| $ | 2,467 |
| $ | (18,079 | ) |
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Less AAG equity income |
| $ | — |
| $ | (6,005 | ) | $ | (7,869 | ) | $ | (14,807 | ) | $ | (1,557 | ) | $ | (9,380 | ) | $ | (1,557 | ) | $ | (4,345 | ) | $ | (643 | ) | $ | (5,236 | ) |
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Plus AAG dividend |
| $ | — |
| $ | — |
| $ | 3,152 |
| $ | — |
| $ | 4,602 |
| $ | — |
| $ | 4,602 |
| $ | — |
| $ | — |
| $ | 4,891 |
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Fixed charges (from below) |
| $ | 23,842 |
| $ | 12,249 |
| $ | 10,860 |
| $ | 10,918 |
| $ | 1,758 |
| $ | 5,599 |
| $ | 1,758 |
| $ | 3,744 |
| $ | 209 |
| $ | 28,894 |
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Earnings available for fixed charges |
| $ | (45,424 | ) | $ | 28,258 |
| $ | 28,192 |
| $ | 33,554 |
| $ | 15,175 |
| $ | 11,831 |
| $ | 15,175 |
| $ | 3,853 |
| $ | 2,033 |
| $ | 10,470 |
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Fixed charges: |
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Interest expense (including debt issuance costs amortized to interest expense) |
| $ | 22,209 |
| $ | 10,400 |
| $ | 8,659 |
| $ | 8,587 |
| $ | 1,208 |
| $ | 3,901 |
| $ | 1,208 |
| $ | 2,537 |
| $ | 24 |
| $ | 27,542 |
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Capitalized interest |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
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| — |
| $ | — |
| $ | — |
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Interest component of rent expense |
| $ | 1,633 |
| $ | 1,849 |
| $ | 2,201 |
| $ | 2,331 |
| $ | 550 |
| $ | 1,698 |
| $ | 550 |
| $ | 1,207 |
| $ | 185 |
| $ | 1,352 |
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Total fixed charges |
| $ | 23,842 |
| $ | 12,249 |
| $ | 10,860 |
| $ | 10,918 |
| $ | 1,758 |
| $ | 5,599 |
| $ | 1,758 |
| $ | 3,744 |
| $ | 209 |
| $ | 28,894 |
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Ratio of earnings to fixed charges |
| -1.91 |
| 2.31 |
| 2.60 |
| 3.07 |
| 8.63 |
| 2.11 |
| 8.63 |
| 1.03 |
| 9.74 |
| 0.36 |
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Fixed charges include interest expense (including amortization of deferred financing costs) and an estimate of operating rental interest expense, approximately 30%, which management believes is representative of the interest component. Earnings before fixed charges were inadequate to cover fixed charges by $69,266 in 2001 and by $18,424 in the period from February 2, 2006 to October 1, 2006.
