Exhibit 12.1
AMERICAN VANGUARD CORPORATION
Computation of Ratios of Earnings to Fixed Charges
(Dollars in thousands)
Nine Months Ended Sept. 30, 2004 | Year Ended Dec. 31, | |||||||||||||||||
2003 | 2002 | 2001 | 2000 | 1999 | ||||||||||||||
Earnings available to cover fixed charges: | ||||||||||||||||||
Pretax income from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investments | 14,091 | 16,182 | 11,278 | 9,023 | 7,185 | 5,223 | ||||||||||||
Plus: | ||||||||||||||||||
Fixed charges | 961 | 370 | 610 | 1,344 | 1,643 | 1,656 | ||||||||||||
EARNINGS AVAILABLE TO COVER FIXED CHARGES | 15,052 | 16,552 | 11,888 | 10,367 | 8,828 | 6,879 | ||||||||||||
Fixed charges: | ||||||||||||||||||
Interest expensed (net of interest income) | 1,008 | 683 | 948 | 1,344 | 1,643 | 1,656 | ||||||||||||
Capitalized interest | (50 | ) | (323 | ) | (347 | ) | 0 | 0 | ||||||||||
Plus: | ||||||||||||||||||
Amortized premiums, discounts and capitalized expenses related to indebtedness | 3 | 10 | 9 | 0 | 0 | 0 | ||||||||||||
Estimate of the interest within rental expenses | — | (a) | — | (a) | — | (a) | — | (a) | — | (a) | — | (a) | ||||||
Preference security dividend requirements of consolidated subsidiaries | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||
TOTAL FIXED CHARGES | 961 | 370 | 610 | 1,344 | 1,643 | 1,656 | ||||||||||||
RATIO OF EARNINGS TO FIXED CHARGES | 15.66 | 44.74 | 19.49 | 7.71 | 5.37 | 4.15 | ||||||||||||
(a) | Interest within rental expenses is deemed to be immaterial for purposes of calculating the ratio of earnings to fixed charges. |