EXHIBIT 12.01
ESSEX GROUP, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
PREDECESSOR SUCCESSOR
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NINE MONTH THREE MONTH YEAR ENDED
PERIOD ENDED PERIOD ENDED DECEMBER 31,
SEPTEMBER 30, DECEMBER 31 -------------------------------------------
1992 1992 1993 1994 1995 1996
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IN THOUSANDS OF DOLLARS
Income (loss) before income taxes and
extraordinary charge....................... $ 14,714 $ (6,962) $ 22,429 $ 52,871 $ 42,174 $ 66,559
Add:
Interest expense......................... 14,505 8,086 25,241 24,554 34,683 39,994
Portion of rents representative of
interest factor........................ 1,379 650 2,073 2,302 2,490 2,977
Current period amortization of interest
capitalized in prior periods........... 48 -- 8 95 120 143
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Income as adjusted........................... $ 30,646 $ 1,774 $ 49,751 $ 79,822 $ 79,467 $ 109,673
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Fixed charges:
Interest incurred:
Amount expensed.......................... $ 14,505 $ 8,086 $ 25,241 $ 24,554 $ 34,683 $ 39,994
Amount capitalized....................... 220 116 1,599 132 565 558
Portion of rents representative of interest
factor................................... 1,379 650 2,073 2,302 2,490 2,977
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Total fixed charges.......................... $ 16,104 $ 8,852 $ 28,913 $ 26,988 $ 37,738 $ 43,529
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Ratio of earnings to fixed charges(a)........ 1.9 -- 1.7 3.0 2.1 2.5
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(a) Earnings of the Successor were insufficient to cover fixed charges by the
amount of $7,078 for the three month period ended December 31, 1992.