EXHIBIT 12.1
TYCO TOYS, INC.
SCHEDULE OF COMPUTATIONS OF EARNINGS TO FIXED CHARGES
(IN THOUSANDS, EXCEPT RATIOS)
YEARS ENDED DECEMBER 31, MARCH 31,
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1991 1992 1993 1994 1995 1995 1996
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Income (loss) before income
taxes and extraordinary loss $27,194 $30,136 $(83,340) $(31,473) $(28,234) $(10,293) $(15,688)
Add fixed charges:
Interest expense ............ 19,676 13,274 23,487 30,913 28,026 5,865 5,276
Portion of rent expense
indicative of the interest
factor therein .............. 2,842 3,711 4,945 4,982 5,174 1,148 1,215
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Total fixed charges ........ 22,518 16,985 28,432 35,895 33,200 7,013 6,491
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Earnings (loss) before income
taxes and fixed charges .... $49,712 $47,121 $(54,908) $ 4,422 $ 4,966 $ (3,280) $ (9,197)
========= ========= =========== =========== =========== =========== ===========
Fixed charges ................ $22,518 $16,985 $ 28,432 $ 35,895 $ 33,200 $ 7,013 $ 6,491
Preferred stock dividends ... -- -- -- 2,157 3,200 784 827
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Fixed charges and preferred
stock dividends ............. $22,518 $16,985 $ 28,432 $ 38,052 $ 36,400 $ 7,797 $ 7,318
========= ========= =========== =========== =========== =========== ===========
Ratio of earnings to fixed
charges and preferred stock
dividends ................... 2.2x 2.8x --(1) --(1) --(1) --(1) --(1)
========= ========= =========== =========== =========== =========== ===========
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(1) For the years ended December 31, 1993, 1994 and 1995 and the three
months ended March 31, 1995 and 1996, the Company's earnings were
insufficient to cover the fixed charges by $83,340, $33,630, $31,434,
$11,077 and $16,515, respectively.