EXHIBIT 12-1
FOSTER WHEELER LTD.
STATEMENT OF COMPUTATION OF CONSOLIDATED RATIO OF
EARNINGS TO FIXED CHARGES AND COMBINED FIXED CHARGES
($000'S)
UNAUDITED
6 months
2001
EARNINGS:
Net earnings $ 8,894
Taxes on income 7,184
Total fixed charges 46,736
Capitalized interest (315)
Capitalized interest amortized 1,211
Equity earnings of non-consolidated associated companies accounted for
by the equity method, net of dividends (85)
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$ 63,625
FIXED CHARGES:
Interest expense (includes dividend on preferred security of $7,875) $ 40,137
Capitalized interest 315
Imputed Interest on non-capitalized lease payment 6,284
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$ 46,736
Ratio of Earnings to Fixed Charges 1.36
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Note: There were no preferred shares outstanding during the period indicated
and, therefore, the consolidated ratio of earnings to fixed charges and combined
fixed charges and preferred share dividend requirements would have been the same
as the consolidated ratio of earnings to fixed charges and combined fixed
charges for the period indicated.
This calculation does not pertain to the fixed charge coverage ratio required by
the amended and restated Revolving Credit Agreement covenants.