Mantech International (MANT) 10-K 2013 FY Annual report

EXHIBIT 12.1

Ratio of Earnings to Fixed Charges

The following table provides our consolidated ratios of earnings to fixed charges (in thousands except ratios):

	Year Ended December 31,
	2013		2012		2011		2009		2008
Fixed Charges:
Interest expense (1)	$	15,696	$	15,776	$	15,304	$	12,233	$	1,141
Amortized premiums, discounts and capitalized expenses related to indebtedness (2)	1,387		1,345		1,291		937		300
Estimate of the interest within rental expense (3)	15,858		17,354		18,396		15,957		17,128
Total Fixed Charges	$	32,941	$	34,475	$	34,991	$	29,127	$	18,569
Earnings:
Pre-tax income from continuing operations before income or loss from equity investees (4)	6,553		$	154,954	$	215,502	$	202,451	$	178,508
Fixed Charges	32,941		34,475		34,991		29,127		18,569
Distributed income of equity investees (4)	—		—		—		—		—
Total Earnings	$	39,494	$	189,429	$	250,493	$	231,578	$	197,077
Ratio of Earnings to Fixed Charges	1.2		5.5		7.2		8.0		10.6
(1) Interest expense consists of interest on indebtedness.
(2) Represents the amortization of financing costs incurred in connection with the Company's credit agreement and our 7.25% senior unsecured notes.
(3) The proportion of rental expense deemed to be representative of the interest factor is one third.
(4) Equity investees are investments accounted for using the equity method of accounting.