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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1995 1994 1993 1992 1991
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Earnings from continuing
operations before
extraordinary item. . . . . . . . . . . . . $ 71,160 $ 93,989 $ 65,226 $ 64,683 $ 2,209
Add (deduct):
Income taxes:
Federal and foreign . . . . . . . . . . . 36,658 52,869 36,293 42,577 28,300
State and local . . . . . . . . . . . . . 3,611 4,931 1,877 1,886 1,538
Portion of rents representative
of interest factor (1). . . . . . . . . . 3,334 3,369 4,078 4,283 4,268
Interest expense. . . . . . . . . . . . . . 91,208 90,337 111,497 137,797 201,954
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Earnings from continuing
operations before
extraordinary item,
as adjusted . . . . . . . . . . . . . . . . $205,971 $245,495 $218,971 $251,226 $238,269
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Fixed charges:
Interest expense. . . . . . . . . . . . . . $ 91,208 $ 90,337 $111,497 $137,797 $201,954
Capitalized interest. . . . . . . . . . . . 997 689 1,140 1,196 955
Portion of rents representative
of interest factor (1). . . . . . . . . . 3,334 3,369 4,078 4,283 4,268
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Fixed charges. . . . . . . . . . . . . . . . . $ 95,539 $ 94,395 $116,715 $143,276 $207,177
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Ratio of earnings to
fixed charges . . . . . . . . . . . . . . . 2.2 2.6 1.9 1.8 1.2
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Note:
(1) Estimated to be 1/3 of total rent expense.