Exhibit 12.1
Rexnord Corporation and Subsidiaries
COMPUTION OF RATIO OF EARNINGS TO FIXED CHARGES
(in Millions)
Fiscal Year Ended March 31, | ||||||||||||||||||||
2009 | 2010 | 2011 | 2012 | 2013 | ||||||||||||||||
Earnings available for fixed charges: | ||||||||||||||||||||
(Loss) income from continuing operations before income taxes | $ | (499.6 | ) | $ | 117.3 | $ | (63.3 | ) | $ | 44.9 | $ | 75.2 | ||||||||
Distributed income of equity investees | — | 0.4 | 1.2 | — | — | |||||||||||||||
Fixed charges | 235.3 | 199.0 | 185.8 | 182.2 | 158.6 | |||||||||||||||
Total earnings available for fixed charges | $ | (264.3 | ) | $ | 316.7 | $ | 123.7 | $ | 227.1 | $ | 233.8 | |||||||||
Fixed charges: | ||||||||||||||||||||
Interest expensed and capitalized (1) | $ | 230.4 | $ | 194.2 | $ | 180.8 | $ | 176.2 | $ | 153.3 | ||||||||||
Interest (representative of rental expense) (2) | 4.9 | 4.8 | 5.0 | 6.0 | 5.3 | |||||||||||||||
Total fixed charges | $ | 235.3 | $ | 199.0 | $ | 185.8 | $ | 182.2 | $ | 158.6 | ||||||||||
Ratio of earnings to fixed charges | See note (3) | 1.6 | 0.7 | 1.2 | 1.5 |
1. | Fixed charges including amortized premiums, discounts and capitalized expenses related to indebtedness. |
2. | An estimate of the interest within rental expense (total rent expense) 33%. |
3. | No ratio is presented for the fiscal year ended March 31, 2009 as the earnings for that period were insufficient to cover fixed charges by $499.6 million. |