EXHIBIT 12.1
C&D TECHNOLOGIES, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In thousands except ratio data)
Year Ended January 31, | Six Months Ended July 31, | |||||||||||||||||||||||
2011 | 2010 | 2009 | 2008 | 2007 | 2011 | |||||||||||||||||||
Earnings | ||||||||||||||||||||||||
Loss before income taxes, noncontrolling interest and discontinued operations | $ | (68,764 | ) | $ | (23,557 | ) | $ | (15,457 | ) | $ | (770 | ) | $ | (16,522 | ) | $ | (1,227 | ) | ||||||
Interest expense and amortization of debt costs | 14,795 | 12,486 | 12,032 | 10,960 | 14,266 | 2,511 | ||||||||||||||||||
Interest portion of rent* | 625 | 820 | 782 | 678 | 699 | 340 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
$ | (53,344 | ) | $ | (10,251 | ) | $ | (2,644 | ) | $ | 10,868 | $ | (1,557 | ) | $ | 1,624 | |||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Fixed Charges | ||||||||||||||||||||||||
Interest expense and amortization of debt costs | 14,795 | 12,486 | 12,032 | 10,960 | 14,266 | 2,511 | ||||||||||||||||||
Interest portion of rent | 625 | 820 | 782 | 678 | 699 | 340 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
$ | 15,420 | $ | 13,306 | $ | 12,814 | $ | 11,638 | $ | 14,965 | $ | 2,851 | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Ratio of earnings to fixed charges | x | (1) | x | (1) | x | (1) | x | (1) | x | (1) | x | (1) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
* | The Company has determined the interest component of rent expense to be 0.30. |
(1) | The ratio of earnings to fixed charges was less than 1:1 for the six months ended July 31, 2011. In order to achieve a ratio of earnings to fixed charges of 1:1, we would have had to generate an additional $1,227 thousand of earnings in the six month period. The ratio of earnings to fixed charges was less than 1:1 for fiscal year 2011. In order to achieve a ratio of earnings to fixed charges of 1:1, we would have had to generate an additional $68.8 million of earnings in fiscal 2011. The ratio of earnings to fixed charges was less than 1:1 for fiscal year 2010. In order to achieve a ratio of earnings to fixed charges of 1:1, we would have had to generate an additional $23.6 million of earnings in fiscal 2010.The ratio of earnings to fixed charges was less than l:1 for fiscal year 2009. In order to achieve a ratio of earnings to fixed charges of 1:1 we would have had to generate an additional $15.5 million of earnings in fiscal 2009. The ratio to fixed charges was less than 1:1 for fiscal year 2008. In order to achieve a ratio of earnings to fixed charges of 1:1 we would have had to generate an additional $0.8 million of earnings in fiscal year 2008. The ratio to fixed charges was less than 1:1 in fiscal year 2007. In order to achieve a ratio of earnings to fixed charges of 1:1 we would have had to generate an additional $16.5 million of earnings in fiscal 2007. |