Exhibit 12
Barnes Group Inc. Computation of Ratio of Earnings to Fixed Charges (Dollars in thousands) |
Years Ended December 31, | 2002 | 2001 | 2000 | 1999 | 1998 |
---|---|---|---|---|---|
Earnings: | |||||
Income before income taxes | $33,111 | $23,459 | $48,590 | $42,698 | $54,663 |
Equity (income) loss, net of distributions | (477) | 580 | (482) | (294) | (1,385) |
Capitalized interest | (128) | (163) | (188) | (263) | (711) |
Amortization of capitalized interest | 344 | 345 | 348 | 335 | 300 |
Fixed charges per below | 18,730 | 19,839 | 18,466 | 8,968 | 7,209 |
Earnings | $51,580 | $44,060 | $66,734 | $51,444 | $60,076 |
Fixed Charges: | |||||
Interest expensed and capitalized, including amortization of debt issuance costs | $15,311 | $16,525 | $15,424 | $6,398 | $4,831 |
Interest portion of rental expense (33%) | 3,419 | 3,314 | 3,042 | 2,570 | 2,378 |
Fixed charges | $18,730 | $19,839 | $18,466 | $8,968 | $7,209 |
Ratio of earnings to fixed charges | 2.8 | 2.2 | 3.6 | 5.7 | 8.3 |