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Exhibit 12
Continental Global Group, Inc.
Computation of Ratio of Earnings to Fixed Charges
(In thousands, except for ratios)
Years ended December 31
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2000 1999 1998 1997 1996
Computation of Earnings:
Income (loss) before extraordinary item and
income taxes $ (11,200) $ (8,728) $ 1,302 $ 8,181 $ 8,940
Add:
Interest expense 15,826 (1) 15,225 (1) 14,658 (1) 12,308 (2) 2,889
Amortization of deferred financing costs - - - - 27
Portion of rent expense representative of
an interest factor 691 815 800 523 407
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Earnings $ 5,317 $ 7,312 $ 16,760 $ 21,012 $ 12,263
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Computation of Fixed Charges:
Interest expense $ 15,826 $ 15,225 $ 14,658 $ 12,308 $ 2,889
Amortization of deferred financing costs - - - - 27
Portion of rent expense representative of
an interest factor 691 815 800 523 407
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Fixed Charges $ 16,517 $ 16,040 $ 15,458 $ 12,831 $ 3,323
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Ratio of Earnings to Fixed Charges - (3) - (4) 1.08 1.64 3.69
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(1) Amortization of deferred financing costs of $520 is included in 2000, 1999,
and 1998 interest expense.
(2) Amortization of deferred financing costs of $390 is included in 1997
interest expense.
(3) Earnings were inadequate to cover fixed charges in the year ended December
31, 2000 by $11,200.
(4) Earnings were inadequate to cover fixed charges in the year ended December
31, 1999 by $8,728.