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Content analysis
?Positive | ||
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Uncertain | ||
Constraining | ||
Legalese | ||
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Readability |
7th grade Good
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Exhibit 12.1
ESTERLINE TECHNOLOGIES CORPORATION
(In thousands)
Statement of Computation of Ratio of Earnings to Fixed Charges
2003 | 2002 | 2001 | 2000 | 1999 | ||||||
Income from continuing | ||||||||||
operations before income taxes | $42,791 | $41,745 | $67,067 | $45,308 | $46,583 | |||||
Fixed charges1 | ||||||||||
Interest expense | 11,995 | 7,122 | 7,663 | 8,124 | 9,011 | |||||
Amortization of debt issuance | ||||||||||
cost | 703 | 167 | 178 | 116 | 107 | |||||
Interest included in rental expense | 2,398 | 2,164 | 2,035 | 1,957 | 1,549 | |||||
Total | 15,096 | 9,453 | 9,876 | 10,197 | 10,667 | |||||
Earnings2 | $57,887 | $51,198 | $76,943 | $55,505 | $57,250 | |||||
Ratio of earnings available to cover | ||||||||||
fixed charges | 3.8 | 5.4 | 7.8 | 5.4 | 5.4 | |||||
1 | Fixed charges consist of interest on indebtedness and amortization of debt issuance cost plus that portion of lease rental expense representative of the interest factor. | |||||||||
2 | Earnings consist of income from continuing operations before income taxes plus fixed charges. |
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