EXHIBIT 12.1 PARK-OHIO INDUSTRIES,INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (IN THOUSANDS, EXCEPT RATIO DATA) .................................... 2001 2000 1999 1998 1997 ---- ---- ---- ---- ---- Earnings from continuing operations before income taxes................ $(36,844) $ 7,906 $28,608 $22,820 $19,199 Less capitalized interest............ (1,000) Fixed charges........................ 35,320 35,084 28,690 20,840 11,495 ------- ------- ------- ------- ------- Earnings available for fixed charges............................ $(1,524) $42,990 $57,298 $42,660 $30,694 Fixed charges: Interest component of rent expense.................... $ 4,212 $ 4,272 $ 3,938 $ 2,352 $ 2,232 Interest expense..................... 31,108 30,812 24,752 17,488 9,101 Interest capitalized................. 1,000 Amortization of deferred financing costs.............................. --(1) (1) --(1) --(1) 162 ------- ------- ------- ------- ------- Total fixed charges.................. $35,320 $35,084 $28,690 $20,840 $11,495 Ratio of earnings to fixed charges............................ (2) 1.23x 2.0x 2.0x 2.7x </Table> (1) Included in interest expense (2) Earnings are inadequate to cover fixed charges for the year ended December 31, 2001, the coverage deficiency totaled $36,844.