EXHIBIT 12.1
DECRANE AIRCRAFT HOLDINGS, INC.
COMPUTATION OF EARNINGS TO FIXED CHARGES RATIOS
(DOLLARS IN THOUSANDS)
YEAR ENDED DECEMBER 31,
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1998
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EIGHT MONTHS FOUR MONTHS
ENDED ENDED
AUGUST 31, DECEMBER 31,
1996 1997 1998 1998 1999 2000
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(PREDECESSOR) (SUCCESSOR)
EARNINGS:
Income (loss) before provision for income
taxes and extraordinary item .......... $ (105) $ 8,598 $ 6,081 $ (2,992) $ (3,418) $ 9,884
Minority interest in income of subsidiary
with fixed charges .................... 193 112 48 82 197 228
Fixed charges ............................ 4,785 3,842 3,117 7,217 29,123 42,923
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Total earnings ........................ $ 4,873 $ 12,552 $ 9,246 $ 4,307 $ 25,902 $ 53,035
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FIXED CHARGES:
Interest expense, including amortization of
debt discounts and issuance costs (1).. $ 4,248 $ 3,154 $ 2,350 $ 6,852 $ 27,918 $ 41,623
Interest component of rentals (2) ....... 537 688 767 365 1,205 1,300
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Total fixed charges ................... $ 4,785 $ 3,842 $ 3,117 $ 7,217 $ 29,123 $ 42,923
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RATIO OF EARNINGS TO FIXED CHARGES:
Ratio .................................... 1.0x 3.3x 3.0x -- -- 1.2x
Deficiency ............................... $ -- $ -- $ -- $ 2,910 $ 3,221 $ --
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(1) None capitalized
(2) Reflects one-third of rental expense under operating leases considered to
represent interest costs.