EXHIBIT 12.1 LENNOX INTERNATIONAL INC. AND SUBSIDIARIES COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (UNAUDITED) <Table> <Caption> For the Years Ended December 31, --------------------------------------------------------------------------- (In thousands, except ratio) 1997 1998 1999 2000 2001 2002 -------- -------- -------- -------- -------- -------- EARNINGS AS DEFINED: Income (loss) before income taxes, cumulative effect of accounting change, minority interest and equity in earnings of joint ventures $(45,709) $ 88,817 $123,138 $100,576 $(44,271) $ 91,998 Fixed charges 22,777 30,225 48,688 81,772 69,188 59,490 -------- -------- -------- -------- -------- -------- Earnings as defined $(22,932) $119,042 $171,826 $182,348 $ 24,917 $151,488 -------- -------- -------- -------- -------- -------- FIXED CHARGES AS DEFINED: Interest expense $ 14,928 $ 20,692 $ 35,693 $ 59,074 $ 45,046 $ 33,877 Amortization of deferred finance charges 116 133 195 265 842 2,603 Portion of rental expense representative of the interest factor 7,733 9,400 12,800 22,433 23,300 23,010 -------- -------- -------- -------- -------- -------- Fixed charges as defined $ 22,777 $ 30,225 $ 48,688 $ 81,772 $ 69,188 $ 59,490 -------- -------- -------- -------- -------- -------- RATIO OF EARNINGS TO FIXED CHARGES(1)(2) -- 3.94 3.53 2.23 -- 2.55 -------- -------- -------- -------- -------- -------- </Table> (1) Due to restructuring charges in 2001 of $73.2 million (of which $7.8 million was included in cost of goods sold), additional earnings of $44.3 million would have been necessary to cover fixed charges. (2) Due to product inspection charges in 1997 of $140.0 million, additional earnings of $45.7 million would have been necessary to cover fixed charges.