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EXHIBIT 12.1
AMERICAN COMMERCIAL LINES LLC
RATIO OF EARNINGS TO FIXED CHARGES
(THOUSANDS OF DOLLARS)
Pro Forma
----------------
Fiscal Twelve
Fiscal Years Ended Six Months Ended Year Months
--------------------------------------------- ---------------- Ended Ended
Dec. 31, Dec. 31, Dec. 29, Dec. 27, Dec. 26, June 27, June 28, Dec. 26, June 26,
1993 1994 1995 1996 1997 1997 1998 1997 1998
-------- -------- -------- -------- ------- -------- -------- -------- --------
EARNINGS:
Earnings before income taxes 18,421 40,222 82,263 86,158 44,231 7,796 10,437 14,528 15,587
Interest on indebtedness 15,654 13,712 11,385 11,780 12,472 6,166 6,068 68,208 68,208
Amortization of debt discount 541 497 429 377 326 167 140 2,800 2,800
Interest portion of fixed rent expense 2,620 2,251 2,197 5,681 6,370 2,975 3,117 9,320 9,443
Minority interest share of loss in
consolidated subsidiaries 0 0 0 0 0 (21) (447) 0 0
------ ------ ------ ------ ------ ------ ------ ------ ------
Earnings, as Adjusted 37,236 56,682 96,274 103,996 63,399 17,083 19,315 94,856 96,038
FIXED CHARGES:
Interest on indebtedness 15,654 13,712 11,385 11,780 12,472 6,166 6,068 68,208 68,208
Amortization of debt discount 541 497 429 377 326 167 140 2,800 2,800
Interest portion of fixed rent expense 2,620 2,251 2,197 5,681 6,370 2,975 3,117 9,320 9,443
------ ------ ------ ------ ------ ------ ------ ------ ------
Fixed Charges 18,815 16,460 14,011 17,838 19,168 9,308 9,325 80,328 80,451
Ratio of Earnings to Fixed Charges 2.0x 3.4x 6.9x 5.8x 3.3x 1.8x 2.1x 1.2x 1.2x
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Pro Forma
---------
Six
Months
Ended
June 26,
1998
--------
EARNINGS:
Earnings before income taxes (10,351)
Interest on indebtedness 34,104
Amortization of debt discount 1,400
Interest portion of fixed rent expense 4,586
Minority interest share of loss in
consolidated subsidiaries (447)
-------
Earnings, as Adjusted 29,292
FIXED CHARGES:
Interest on indebtedness 34,104
Amortization of debt discount 1,400
Interest portion of fixed rent expense 4,586
------
Fixed Charges 40,090
Ratio of Earnings to Fixed Charges 0.7x
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