Exhibit 12.1
The Scotts Miracle-Gro Company
Computation of Ratio of Earnings to Fixed Charges
($ IN MILLIONS) | For the Fiscal Year Ended September 30, | |||||||||||||||||||||||
2009(1) | 2009 | 2008 | 2007 | 2006 | 2005 | |||||||||||||||||||
(As Adjusted) | ||||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Add: | ||||||||||||||||||||||||
Income before income taxes | $ | 199.3 | $ | 210.7 | $ | 15.8 | $ | 188.1 | $ | 212.9 | $ | 158.1 | ||||||||||||
Other (2) | 0.8 | 0.8 | 0.7 | (0.5 | ) | 0.3 | 0.1 | |||||||||||||||||
Fixed charges | 90.1 | 78.7 | 105.3 | 96.2 | 61.1 | 61.2 | ||||||||||||||||||
Deduct: | ||||||||||||||||||||||||
Capitalized interest | (0.4 | ) | (0.4 | ) | (0.4 | ) | (0.4 | ) | (0.4 | ) | (0.4 | ) | ||||||||||||
Earnings | $ | 289.8 | $ | 289.8 | $ | 121.4 | $ | 283.4 | $ | 273.9 | $ | 219.0 | ||||||||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest expense | $ | 67.8 | $ | 56.4 | $ | 82.2 | $ | 70.7 | $ | 39.6 | $ | 41.5 | ||||||||||||
Portion of rent expense representative of interest factor (33%) | 21.9 | 21.9 | 22.7 | 25.1 | 21.1 | 19.3 | ||||||||||||||||||
Capitalized interest | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | ||||||||||||||||||
Fixed Charges | $ | 90.1 | $ | 78.7 | $ | 105.3 | $ | 96.2 | $ | 61.1 | $ | 61.2 | ||||||||||||
Ratio of Earnings to Fixed Charges | 3.2 | 3.7 | 1.2 | 2.9 | 4.5 | 3.6 |
(1) | As adjusted for the issuance of our 7.25% Senior Notes due 2018 and the application of the net proceeds of such issuance to repay borrowings under our senior secured revolving credit facility. | |
(2) | Includes amortization of capitalized interest, adjustments for minority interests in consolidated subsidiaries and distributed earnings of equity method investees. |