Exhibit 12.2
Thermon Holding Corp.
Computation of Ratio of Earnings to Fixed Charges
(dollars in thousands, except ratio data)
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| Predecessor |
| Predecessor |
| Successor |
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| 2010 |
| Year Ended March 31 |
| 2012 |
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Earnings |
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Income (loss) from continuing operations before provision for income taxes |
| $ | 32,906 |
| $ | (26,481 | ) | $ | 19,498 |
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Plus: Fixed Charges |
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Interest expense and amortization of premiums/discounts (a) |
| 7,357 |
| 29,200 |
| 19462 |
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Estimated interest component of rental expense |
| 566 |
| 677 |
| 739 |
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Total Fixed Charges |
| $ | 7,923 |
| $ | 29,677 |
| $ | 20,201 |
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Less: |
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Pre tax income from continuing operations plus fixed charges |
| $ | 40,829 |
| $ | 3,196 |
| $ | 39,699 |
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Ratio of Earnings to Fixed Charges |
| 5.2 | x | nm | (b) | 2.0 | x | |||
(a) The Company considers one-third of rent expense to be a reasonable estimate of the related interest expense.
(b) Earnings were insufficient to cover fixed charges in the fiscal year ended March 31, 2011 by $56.2 million due to increased interest and amortization expenses, financing fees and other non-recurring expenses related to the acquisition of a controlling interest in the Company by an investor group led by our private equity sponsors, which was completed on April 30, 2010.
