EXHIBIT 12.1
COLTEC INDUSTRIES INC AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In thousands)
Year Ended December 31,
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1994 1993 1992 1991 1990
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Earnings from continuing
operations before
extraordinary item . . . . . . . . . . . . $ 93,989 $ 65,226 $ 64,683 $ 2,209 $ 40,934
Add (deduct):
Income taxes:
Federal and foreign. . . . . . . . . . . 52,869 36,293 42,577 28,300 33,770
State and local. . . . . . . . . . . . . 4,931 1,877 1,886 1,538 913
Portion of rents representative
of interest factor (1) . . . . . . . . . . 3,369 4,078 4,283 4,268 4,246
Interest expense . . . . . . . . . . . . . 90,337 111,497 137,797 201,954 206,027
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Earnings from continuing
operations before
extraordinary item,
as adjusted. . . . . . . . . . . . . . . . $245,495 $218,971 $251,226 $238,269 $285,890
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Fixed charges:
Interest expense . . . . . . . . . . . . . $ 90,337 $ 111,497 $137,797 $201,954 $206,027
Capitalized interest . . . . . . . . . . . 689 1,140 1,196 955 1,015
Portion of rents representative
of interest factor (1) . . . . . . . . . . 3,369 4,078 4,283 4,268 4,246
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Fixed charges. . . . . . . . . . . . . . . . $ 94,395 $116,715 $143,276 $207,177 $211,288
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Ratio of earnings to
fixed charges. . . . . . . . . . . . . . . 2.6 1.9 1.8 1.2 1.4
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<FN>
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Note:
(1) Estimated to be 1/3 of total rent expense.