Exhibit 12.1
BE Aerospace, Inc.
Computation of Ratio of Earnings to Fixed Charges
(unaudited)
(dollars in millions, except ratios)
|
| Three Month Ended |
| Fiscal Year Ended December 31, |
| |||||||||||||||||
|
| 2012 |
| 2011 |
| 2011 |
| 2010 |
| 2009 |
| 2008 |
| 2007 |
| |||||||
Earnings: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Earnings (loss) before income taxes |
| $ | 101.4 |
| $ | 73.9 |
| $ | 323.0 |
| $ | 211.4 |
| $ | 204.6 |
| $ | (87.8 | ) | $ | 215.1 |
|
Fixed charges, excluding capitalized interest |
| 28.8 |
| 26.5 |
| 106.6 |
| 93.7 |
| 90.5 |
| 51.2 |
| 25.0 |
| |||||||
Total Earnings |
| $ | 130.2 |
| $ | 100.4 |
| $ | 429.6 |
| $ | 305.1 |
| $ | 295.1 |
| $ | (36.6 | ) | $ | 240.1 |
|
Fixed Charges: |
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|
|
|
|
|
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|
|
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Interest Expense |
| $ | 26.9 |
| $ | 24.7 |
| $ | 99.3 |
| $ | 85.9 |
| $ | 82.2 |
| $ | 45.8 |
| $ | 22.3 |
|
Rental expenses representative of an interest factor |
| 0.3 |
| 0.3 |
| 1.1 |
| 1.0 |
| 1.7 |
| 1.5 |
| 1.5 |
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Capitalized Interest |
| — |
| 0.4 |
| 0.9 |
| — |
| — |
| — |
| — |
| |||||||
Amortization of deferred debt issuance costs and discount |
| 1.6 |
| 1.5 |
| 6.2 |
| 6.8 |
| 6.6 |
| 3.9 |
| 1.2 |
| |||||||
Total Fixed Charges |
| $ | 28.8 |
| $ | 26.9 |
| $ | 107.5 |
| $ | 93.7 |
| $ | 90.5 |
| $ | 51.2 |
| $ | 25.0 |
|
Ratio of earnings to total fixed charges |
| 4.5 |
| 3.7 |
| 4.0 |
| 3.3 |
| 3.3 |
| * |
| 9.6 |
|
* For the fiscal year ended December 31, 2008, our earnings were insufficient to cover our fixed charges by $87.8 million.