Exhibit 12.01
Haynes International, Inc.
Ratio of Earnings Before Fixed Charges to Fixed Charges
1999 | 2000 | 2001 | 2002 | 2003 | ||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Line 1 | Income (loss) before income taxes, extraordinary item and cumulative effect effect of a change in accounting principle | $ | (5,755 | ) | $ | (6,977 | ) | $ | 894 | $ | 1,599 | $ | (13,724 | ) | ||||||
Line 2 | Interest on indebtedness | 19,102 | 21,494 | 21,857 | 19,269 | 18,521 | ||||||||||||||
Line 3 | Amortization of debt issuance costs | 1,246 | 1,152 | 1,308 | 1,316 | 1,203 | ||||||||||||||
Line 4 | Estimated interest portion of rental expense | 702 | 785 | 900 | 824 | 721 | ||||||||||||||
Line 5 | Total earnings before fixed charges | $ | 15,295 | $ | 16,454 | $ | 24,959 | $ | 23,008 | $ | 6,721 | |||||||||
Line 6 | Interest on indebtedness | 19,197 | (1) | 21,494 | 21,857 | 19,269 | 18,521 | |||||||||||||
Line 7 | Amortization of debt issuance costs | 1,246 | 1,152 | 1,308 | 1,316 | 1,203 | ||||||||||||||
Line 8 | Estimated interest portion of rental expense | 702 | 785 | 900 | 824 | 721 | ||||||||||||||
Line 9 | Total fixed charges | $ | 21,145 | $ | 23,431 | $ | 24,065 | $ | 21,409 | $ | 20,445 | |||||||||
Ratio of earnings before fixed charges to fixed charges | N/A(2) | N/A(2) | 1.04 | 1.07 | N/A(2) |
(1) | Includes $95 for 1999 of capitalized interest expense. |
(2) | Earnings before fixed charges were insufficient to cover fixed charges in 1999, 2000 and 2003 in the amounts of $5,850, $6,977, and $13,724, respectively. |