Exhibit 12.1
GENERAL CABLE CORPORATION AND SUBSIDIARIES
Computation of Ratio of Earnings to Fixed Charges
(in millions)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | Six Fiscal | | | | |
| | Months | | | | |
| | Ended | | | | |
| | June 27, | | | Year Ended December 31, | |
| | 2008 | | | 2007 | | | 2006 | | | 2005 | | | 2004 | | | 2003 | |
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 | | $ | 220.6 | | | $ | 307.8 | | | $ | 204.3 | | | $ | 61.5 | | | $ | 18.5 | | | $ | (1.2 | ) |
| | | | | | | | | | | | | | | | | | |
Preferred stock dividend (pre-tax equivalent) | | | (0.2 | ) | | | (0.5 | ) | | | (0.5 | ) | | | (33.8 | ) | | | (9.2 | ) | | | (0.9 | ) |
Fixed charges | | | 33.2 | | | | 52.5 | | | | 43.3 | | | | 76.7 | | | | 49.4 | | | | 53.6 | |
| | | | | | | | | | | | | | | | | | |
TOTAL EARNINGS, AS DEFINED | | $ | 253.6 | | | $ | 359.8 | | | $ | 247.1 | | | $ | 104.4 | | | $ | 58.7 | | | $ | 51.5 | |
| | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
FIXED CHARGES, AS DEFINED | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Interest expense | | $ | 27.7 | | | $ | 43.9 | | | $ | 36.9 | | | $ | 36.5 | | | $ | 35.0 | | | $ | 45.3 | |
Amortization of capitalized expenses related to debt | | | 3.5 | | | | 4.5 | | | | 3.1 | | | | 3.4 | | | | 2.7 | | | | 4.5 | |
Preferred stock dividend (pre-tax equivalent) | | | 0.2 | | | | 0.5 | | | | 0.5 | | | | 33.8 | | | | 9.2 | | | | 0.9 | |
Interest component of rent expense | | | 1.8 | | | | 3.6 | | | | 2.8 | | | | 3.0 | | | | 2.5 | | | | 2.9 | |
| | | | | | | | | | | | | | | | | | |
TOTAL FIXED CHARGES, AS DEFINED | | $ | 33.2 | | | $ | 52.5 | | | $ | 43.3 | | | $ | 76.7 | | | $ | 49.4 | | | $ | 53.6 | |
| | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
RATIO OF EARNINGS TO FIXED CHARGES | | | 7.6 | | | | 6.9 | | | | 5.7 | | | | 1.4 | | | | — | | | | — | |
For the year ended December 31, 2003, earnings were insufficient to cover fixed charges by $2.1 million.