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Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
8th grade Avg
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- 10-K Annual report
- 12 Computation of Ratios of Earnings to Fixed Charges (Unaudited)
- 21 Subsidiaries of the Registrant
- 23 Consent of Pricewatwerhousecoopers LLP
- 24 Powers of Attorney In Favor of K. Douglas Ralph or Oliver C. Mitchell, JR.
- 31 Section 302 Certification of CEO
- 31 Section 302 Certification of CFO
- 32 Section 906 Certifications of CEO and CFO
- 99 Agreement to Furnish Debt Instruments
Exhibit 12
Carpenter Technology Corporation
Computation of Ratios of Earnings to Fixed Charges — unaudited
Five Years ended June 30, 2008
(dollars in millions)
Year Ended June 30, | ||||||||||||||||||||
2008 | 2007 | 2006 | 2005 | 2004 | ||||||||||||||||
Fixed charges: | ||||||||||||||||||||
Interest costs(a) | $ | 22.8 | $ | 23.3 | $ | 23.6 | $ | 23.1 | $ | 23.8 | ||||||||||
Interest component of non-capitalized lease rental expense(b) | 2.2 | 3.0 | 1.8 | 2.6 | 2.7 | |||||||||||||||
Total fixed charges | $ | 25.0 | $ | 26.3 | $ | 25.4 | $ | 25.7 | $ | 26.5 | ||||||||||
Earnings as defined: | ||||||||||||||||||||
Income before income taxes | $ | 297.3 | $ | 312.0 | $ | 291.4 | $ | 190.0 | $ | 49.7 | ||||||||||
Less income from less-than-fifty-percent owned entities, and loss on sale of partial interest in less-than-fifty percent owned enities | (1.1 | ) | (1.2 | ) | (1.6 | ) | (0.9 | ) | (1.0 | ) | ||||||||||
Fixed charges less interest capitalized | 22.7 | 25.8 | 25.1 | 25.6 | 26.4 | |||||||||||||||
Amortization of capitalized interest | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | |||||||||||||||
Earnings as defined | $ | 321.4 | $ | 339.1 | $ | 317.4 | $ | 217.2 | $ | 77.6 | ||||||||||
Ratio of earnings to fixed charges | 12.9 | x | 12.9 | x | 12.5 | x | 8.5 | x | 2.9 | x | ||||||||||
(a) | Includes interest capitalized relating to significant construction projects, and amortization of debt discount and debt issue costs. |
(b) | One-third of rental expense which approximates the interest component of non-capitalized leases. |