Globe Manufacturing Corp.
Exhibit 12.1 Statement Re: Computation of ratio of earnings to fixed charges
Fiscal Year Ended: Nine Months Ended:
December 31, September 30,
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Pro forma Pro forma
1993 1994 1995 1996 1997 1997 1997 1998 1998
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Fixed Charges:
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Interest expense 2,256 3,646 6,027 5,347 4,067 25,703 3,451 6,198 18,818
Interest capitalized 0 1,558 422 0 506 635 313 828 959
Interest portion of rental expense 21 22 18 6 7 7 5 6 6
Net amortization of debt issuance expense 490 438 297 151 94 0 73 48 0
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2,767 5,664 6,764 5,504 4,674 26,345 3,842 7,080 19,783
Earnings:
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Consolidated pretax income from continuing operations 14,884 6,706 4,127 13,346 25,232 3,592 20,516 14,956 8,703
Fixed charges per above 2,767 5,664 6,764 5,504 4,674 26,345 3,842 7,080 19,783
Less interest capitalized 0 1,558 422 0 506 635 313 828 959
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17,651 10,812 10,469 18,850 29,400 29,302 24,045 21,208 27,527
Ratio of earnings to fixed charges 6.38 1.91 1.55 3.42 6.29 1.11 6.26 3.00 1.39
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