EXHIBIT 12.1
Jarden Corporation
Ratio of Earnings to Fixed Charges Calculation (A)
For the Years Ended December 31, | ||||||||||||||||
2004 | 2005 | 2006 | 2007 | 2008 | ||||||||||||
(in millions) | ||||||||||||||||
Earnings Before Fixed Charges: | ||||||||||||||||
Net income (loss) | $ | 42.4 | $ | 60.7 | $ | 106.0 | $ | 28.1 | $ | (58.9 | ) | |||||
Add: Income tax provision | 26.0 | 35.0 | 82.0 | 38.5 | 26.3 | |||||||||||
Less/add: Equity (income) loss of minority-owned companies | — | — | — | 0.2 | 0.1 | |||||||||||
Add: Amortization of capitalized interest | — | — | — | 0.1 | 0.2 | |||||||||||
Add: Fixed charges | 32.2 | 98.1 | 130.8 | 173.9 | 206.3 | |||||||||||
Total earnings available for fixed charges | $ | 100.6 | $ | 193.8 | $ | 318.8 | $ | 240.8 | $ | 174.0 | ||||||
Fixed Charges: | ||||||||||||||||
Interest expense | $ | 27.6 | $ | 84.2 | $ | 112.6 | $ | 149.7 | $ | 178.7 | ||||||
Interest component of rental expense | 4.6 | 13.8 | 17.7 | 24.0 | 27.6 | |||||||||||
Total fixed charges before capitalized interest | 32.2 | 98.0 | 130.3 | 173.7 | 206.3 | |||||||||||
Capitalized interest | — | — | 0.5 | 0.2 | — | |||||||||||
Total Fixed Charges | $ | 32.2 | $ | 98.0 | $ | 130.8 | $ | 173.9 | $ | 206.3 | ||||||
Ratio of Earnings to Fixed Charges | 3.1 | 2.0 | 2.4 | 1.4 | (B) | |||||||||||
(A) – | This exhibit is provided as required by Item 503(d) of Regulation S-K solely because the Company has outstanding debt securities registered under the Securities Act of 1933, as amended. Neither the Company’s registered debt securities nor its senior credit facility contains a ratio of earnings-to-fixed-charges covenant. |
(B) – | Due to the loss in 2008, additional net income of $32.3 is required to achieve a ratio of 1:1. |