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EXHIBIT 12.1
AMERICAN COMMERCIAL LINES LLC
RATIO OF EARNINGS TO FIXED CHARGES
(THOUSANDS OF DOLLARS)
FISCAL YEAR ENDED DEC. 29, MAY 29, FISCAL YEAR ENDED
-------------------- 2001 TO 2002 TO ---------------------------------
DEC. 29, DEC. 28, MAY 28, DEC. 27, DEC. 27, DEC. 26, DEC. 31,
2000 2001 2002 2002 2002 2003 2004
--------- -------- --------- -------- ------- -------- --------
EARNINGS:
Earnings (loss) before income taxes (7,830) (5,702) (44,929) (25,258) (70,187) (59,475) 6,149
Less minority earnings or loss 1,062 1,550 (1,158) 2,570 1,412 886 1,209
Less equity investment earnings or loss 235 2,541 (642) 272 (370) (4,714) (2,385)
Plus Dividends from equity investments - - - 150 150 - 810
Fixed Charges (see below) 83,828 86,505 30,711 45,211 75,922 51,979 46,634
------ ------ ------- ------ ------ ------- ------
Earnings, as Adjusted 77,295 84,894 (16,018) 22,945 6,927 (11,324) 52,417
FIXED CHARGES:
Interest on indebtedness 67,751 66,519 23,119 33,259 56,378 32,637 29,409
Amortization on debt issuance costs 3,062 4,413 1,246 1,149 2,395 2,958 2,170
Amortization on debt discount - - - 2,882 2,882 5,919 7,444
Interest portion of fixed rent expense 13,015 15,573 6,346 7,921 14,267 10,465 7,611
------ ------ ------- ------ ------ ------- ------
Fixed Charges 83,828 86,505 30,711 45,211 75,922 51,979 46,634
Ratio of Earnings to Fixed Charges 0.9x 1.0x (0.5)x 0.5x 0.1x (0.2)x 1.1x
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Excess (Shortage) Of Earnings To Fixed Charges (6,533) (1,611) (46,729) (22,266) (68,995) (63,303) 5,783
INTEREST PORTION OF FIXED RENT:
Building and Equipment Rent 49,463 56,711 23,121 29,896 53,017 37,044 26,852
Less: Short-Term Rent (10,025) (9,519) (3,890) (5,893) (9,783) (5,332) (3,787)
------ ------ ------- ------ ------ ------- ------
Building and Equipment Rent - Net 39,438 47,192 19,231 24,003 43,234 31,712 23,065
Interest Portion Factor of Fixed Rent 33% 33% 33% 33% 33% 33% 33%
------ ------ ------- ------ ------ ------- ------
Interest Portion of Fixed Rent 13,015 15,573 6,346 7,921 14,267 10,465 7,611
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