Collins & Aikman Corporation and Subsidiaries
Ration of earnings to combined fixed charges and preferred stock dividends
Exhibit 12
(In $ Millions)
2001 2000 1999 1998 1997
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FIXED CHARGES
Interest expense, net $ 84.3 $ 96.6 $ 92.0 $ 82.0 $ 77.6
Interest income 2.0 3.4 2.5 3.7 5.7
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Interest expense, gross from continuing ops 86.3 100.0 94.5 85.7 83.3
Capitalized interest - 0.1 0.8 0.5 # -
Interest expense from discontinued operations - - - - 12.5
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Total interest expense, gross (a) 86.3 100.1 95.3 86.2 95.8
Interest portion of rental expense 9.7 6.9 7.2 5.8 5.1
Pre-tax earnings required to cover preferred
stock dividends and accretion of subsidiary 4.0 - - - -
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FIXED CHARGES $ 100.0 $ 106.9 $ 101.7 $ 91.5 $ 88.4
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TOTAL EARNINGS
Pre-tax income from continuing operations $ (68.3) $ 0.8 $ (1.1) $ 5.2 $ 2.9
(Income) loss from equity investees 0.0 0.7 0.2 0.1 (0.8)
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Total (68.3) 1.5 (0.9) 5.3 2.1
ADD:
Fixed charges 100.0 106.9 101.7 91.5 88.4
Distributed income of equity investees - 0.5 - - -
SUBTRACT:
Interest capitalized - 0.1 0.8 0.5 -
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TOTAL EARNINGS $ 31.8 $ 108.8 $ 100.0 $ 96.3 $ 90.5
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RATIO OF EARNINGS TO FIXED CHARGES (b) 1.02 (b) 1.05 1.02
Dollar value of deficiency (68.3) (1.7)
(a) - Includes amortization of debt issuance costs
(b) - Earnings for the year were inadequate to cover fixed charges. The dollar
value of the deficiency is disclosed.