Exhibit 12.1
GENERAL CABLE CORPORATION AND SUBSIDIARIES
Computation of Ratio of Earnings to Fixed Charges
(in millions)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | Three Fiscal | | | | |
| | Months Ended | | | | | | | | | | | | | | | | |
| | March 31, | | | Year Ended December 31, | | |
| | 2006 | | | 2005 | | | 2004 | | | 2003 | | | 2002 | | | 2001 | |
EARNINGS, AS DEFINED | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Earnings (loss) from operations before income taxes and before adjustments for minority interests in consolidated subsidiaries and after eliminating undistributed earnings of equity method investees | | $ | 33.6 | | | $ | 61.5 | | | $ | 18.5 | | | $ | (1.2 | ) | | $ | (27.6 | ) | | $ | 58.1 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Preferred stock dividend (pre-tax equivalent) | | | (0.1 | ) | | | (33.8 | ) | | | (9.2 | ) | | | (0.9 | ) | | | — | | | | — | |
Fixed charges | | | 11.0 | | | | 76.7 | | | | 49.4 | | | | 53.6 | | | | 47.5 | | | | 51.5 | |
| | | | | | | | | | | | | | | | | | |
TOTAL EARNINGS, AS DEFINED | | $ | 44.5 | | | $ | 104.4 | | | $ | 58.7 | | | $ | 51.5 | | | $ | 19.9 | | | $ | 109.6 | |
| | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
FIXED CHARGES, AS DEFINED | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Interest expense | | $ | 9.4 | | | $ | 36.5 | | | $ | 35.0 | | | $ | 45.3 | | | $ | 41.3 | | | $ | 43.2 | |
Amortization of capitalized expenses related to debt | | | 0.7 | | | | 3.4 | | | | 2.7 | | | | 4.5 | | | | 3.7 | | | | 4.4 | |
Preferred stock dividend (pre-tax equivalent) | | | 0.1 | | | | 33.8 | | | | 9.2 | | | | 0.9 | | | | — | | | | — | |
Interest component of rent expense | | | 0.8 | | | | 3.0 | | | | 2.5 | | | | 2.9 | | | | 2.5 | | | | 3.9 | |
| | | | | | | | | | | | | | | | | | |
TOTAL FIXED CHARGES, AS DEFINED | | $ | 11.0 | | | $ | 76.7 | | | $ | 49.4 | | | $ | 53.6 | | | $ | 47.5 | | | $ | 51.5 | |
| | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
RATIO OF EARNINGS TO FIXED CHARGES | | | 4.0 | | | | 1.4 | | | | 1.2 | | | | — | | | | — | | | | 2.1 | |
For the years ended December 31, 2003 and 2002, earnings were insufficient to cover fixed charges by $2.1 million and $27.6 million, respectively.
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