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EXHIBIT 12.1
REXNORD CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(IN MILLIONS)
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<Caption>
Six Months Ended
Fiscal Year Ended March 31, September 30,
---------------------------------- --------------------
2000 2001 2002 2001 2002
--------- --------- -------- ------- --------
Income (loss) before income
taxes $ 92.1 $ 80.7 $ 1.1 ($ 18.6) $ 28.3
Fixed charges 39.2 39.3 26.1 17.2 11.0
--------- --------- -------- ------- --------
Earnings $ 131.3 $ 120.0 $ 27.2 ($ 1.4) $ 39.3
========= ========= ======== ======= ========
Interest expense $ 37.5 $ 37.4 $ 24.0 $ 16.1 $ 9.9
Interest portion of rent
expense(1) 1.7 1.9 2.1 1.1 1.1
--------- --------- -------- ------- --------
Fixed charges $ 39.2 $ 39.3 $ 26.1 $ 17.2 $ 11.0
========= ========= ======== ======= ========
Ratio of earnings to fixed
charges 3.35 3.05 1.04 N/A(2) 3.57
========= ========= ======== ======= ========
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(1) For purpose of calculating the ratio of earnings to fixed charges, fixed
charges include net interest expense and the portion of rent expense
estimated to represent interest expense.
(2) Earnings were insufficient to cover fixed charges for the six months ended
September 30, 2001 by $18.6 million.