Exhibit 12.1
Ducommun Incorporated
Ratio of Earnings to Fixed Charges
Dollars in Thousands
| Three Months Ended March 30, | Year Ended December 31, | |||||||||||||||||||||||
| Ratio of earnings to fixed charges | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | ||||||||||||||||||
| 1.3x | 1.6x | — | (1) | 8.7x | 4.6x | 8.3x | ||||||||||||||||||
Components | ||||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Income Before Taxes | $ | 2,479 | $ | 22,015 | $ | (52,325 | ) | $ | 24,663 | $ | 13,760 | $ | 17,049 | |||||||||||
Fixed charges | 8,297 | 34,750 | 19,916 | 3,185 | 3,842 | 2,342 | ||||||||||||||||||
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Earnings | $ | 10,776 | $ | 56,765 | $ | (32,409 | ) | $ | 27,848 | $ | 17,602 | $ | 19,391 | |||||||||||
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Fixed charges: | ||||||||||||||||||||||||
Interest expense | $ | 7,823 | $ | 32,798 | $ | 18,198 | $ | 1,805 | $ | 2,522 | $ | 1,242 | ||||||||||||
Amortized premiums and discounts (2) | — | — | — | — | — | — | ||||||||||||||||||
Estimate of interest within rental expense | 474 | (3) | 1,952 | (3) | 1,718 | (3) | 1,380 | (3) | 1,320 | (3) | 1,100 | (3) | ||||||||||||
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Total of Fixed Charges | $ | 8,297 | $ | 34,750 | $ | 19,916 | $ | 3,185 | $ | 3,842 | $ | 2,342 | ||||||||||||
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Notes:
(1) Earnings were insufficient to cover fixed charges by $32,409. (2) Interest premiums and discounts are immaterial and have been included in Interest Expense for financial reports. (3) Amount estimated by multiplying Rental Expense related to buildings by 26.2% and Rental Expense related to other rental items by 14.3%.
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Rental Expense | 2,013 | 8,248 | 7,258 | 6,208 | 5,963 | 4,944 | ||||||||||||||||||
