Exhibit 12.1
NN, Inc.
Computation of Ratio of Earnings to Fixed Charges
For Fiscal Years Ended December 31, 2009 through 2013
For Nine Months Ended September 30, 2014
(in thousands except ratio amounts)
For Nine Months Ended September 30, | For Fiscal Years Ended December 31, | |||||||||||||||||||||||
| 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | |||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Income before provision for income taxes | $ | 10,621 | $ | 25,178 | $ | 20,341 | $ | 26,105 | $ | 10,985 | $ | (37,624 | ) | |||||||||||
Distributed income of equity investees | 2,538 | — | — | — | — | — | ||||||||||||||||||
Fixed charges | 8,843 | 4,699 | 6,253 | 7,896 | 10,968 | 11,162 | ||||||||||||||||||
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Total Adjusted Earnings | $ | 22,002 | $ | 29,877 | $ | 26,594 | $ | 34,001 | $ | 21,953 | $ | (26,462 | ) | |||||||||||
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Fixed Charges: | ||||||||||||||||||||||||
Interest expense | $ | 4,841 | $ | 1,827 | $ | 3,054 | $ | 3,906 | $ | 5,400 | $ | 5,212 | ||||||||||||
Amortization of debt issuance costs | 1,896 | 547 | 824 | 809 | 1,415 | 1,147 | ||||||||||||||||||
Rent expense | 2,106 | 2,325 | 2,375 | 3,181 | 4,153 | 4,803 | ||||||||||||||||||
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Total Fixed Charges | $ | 8,843 | $ | 4,699 | $ | 6,253 | $ | 7,896 | $ | 10,968 | $ | 11,162 | ||||||||||||
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Ratio of Earnings to Fixed Charges | 2.49 | x(1) | 6.36 | x | 4.26 | x | 4.31 | x | 2.01 | x | — | x(2) | ||||||||||||
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| (1) | The nine months ended September 30, 2014 were significantly impacted by certain costs related to four acquisitions completed in 2014. |
| (2) | Additional earnings of $37.6 million would have been needed to achieve a coverage of 1:1 for the year ended December 31, 2009. |
