EXHIBIT 12.1
PARK-OHIO INDUSTRIES INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(IN THOUSANDS, EXCEPT RATIO DATA)
<Table>
<Caption>
2003 2002 2001 2000 1999
---- ---- ---- ---- ----
Earnings (loss)
before income taxes $(11,523) $(11,044) $(36,844) $ 7,906 $28,608
Less capitalized interest
Fixed charges 29,572 31,206 35,320 35,084 28,690
-------- -------- -------- -------- -------
Earnings available for fixed
charges $ 18,049 $ 19,750 $ (1,524) $ 42,990 $57,298
Fixed charges:
Interest component
of rent expense $ 3,421 $ 3,583 $ 4,212 $ 4,272 3,938
Interest expense 26,151 27,623 31,108 30,812 24,752
Interest capitalized
Amortization of deferred financing
costs --(1) --(1) --(1) --(1) --(1)
-------- -------- -------- -------- -------
Total fixed charges $ 29,572 $ 31,206 $ 35,320 $ 35,084 $28,690
Ratio of earnings to fixed
charges (2) (2) (2) 1.2x 2.0X
</Table>
(1) Included in interest expense
(2) Earnings were inadequate to cover fixed charges for the years ended
December 31, 2003, 2002, and 2001, and the coverage deficiency totaled
$11,523, $11,044 and $36,844, respectively.