EX-12
SYRATECH CORPORATION AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS
BEFORE FIXED CHARGES TO FIXED CHARGES
(in thousands, except ratios)
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| Year Ended December 31, |
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| 2002 |
| 2001 |
| 2000 |
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Excess (deficiency) of earnings available to cover fixed charges(1) |
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Earnings: |
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Income (loss) before income taxes |
| $ | (34,140 | ) | $ | (13,423 | ) | $ | 6,739 |
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Add: Fixed charges |
| 22,029 |
| 23,968 |
| 25,191 |
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Earnings, as adjusted |
| (12,111 | ) | 10,545 |
| 31,930 |
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Fixed charges: |
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Interest on indebtness |
| 18,457 |
| 20,497 |
| 21,902 |
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Amortization of debt issuance costs |
| 1,691 |
| 1,786 |
| 1,410 |
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Portion of rents representative of the interest factor |
| 1,881 |
| 1,685 |
| 1,879 |
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Fixed charges |
| 22,029 |
| 23,968 |
| 25,191 |
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Excess (deficiency) of earnings to fixed Charges |
| $ | (34,140 | ) | $ | (13,423 | ) | $ | 6,739 |
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Ratio of earnings to fixed charges |
| — |
| — |
| 1.27 |
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(1) For purposes of these computations, earnings consist of income (loss) before income taxes plus fixed charges. Fixed charges consist of interest on indebtedness and amortization of debt issuance costs, plus that portion of operating lease rental expense representative of the interest factor. The ratio of earnings to fixed charges is not shown for the years ended December 31, 2002 and 2001 due to a deficiency of earnings to fixed charges.
