Exhibit 12.1
Casella Waste Systems, Inc.
Statement of Computation of Ratio of Earnings to Fixed Charges and
Earnings to Combined Fixed Charges and Preferred Stock Dividends
(in thousands, except ratios)
THREE MONTHS
YEAR ENDED APRIL 30, ENDED JULY 31,
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2000 2001 2002 2003 2004 2004
Income (loss) from continuing operations
before income taxes, discontinued operations,
extraordinary item and cumulative effect of
change in accounting principle $22,042 $(114,001) $15,798 $ 7,871 $ 3,759 $ 5,108
Minority interests 502 1,026 (154) (152) -- --
Gain / loss in equity method investees 1,062 26,256 (1,899) (2,073) (2,261) 68
Distributed income of equity method investees - -- 500 2,000 -- --
Fixed charges 18,200 42,875 33,798 28,926 27,644 7,637
Less: interest capitalized (640) (373) (437) (719) (356) (58)
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Earnings $41,166 $ (44,217) $47,606 $35,853 $28,786 $12,755
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Interest expense (includes amort. of
def. financing charges) $16,907 $ 41,628 $31,451 $26,572 $25,648 $ 7,169
Estimate of interest within rental expense 653 874 1,910 1,635 1,640 410
Interest capitalized 640 373 437 719 356 58
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Fixed charges $18,200 $ 42,875 $33,798 $28,926 $27,644 $ 7,637
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Ratio of earnings to fixed charges 2.26 -- 1.41 1.24 1.04 1.67
Deficiency of earnings to fixed charges $ -- $ (87,092) $ -- $ -- $ -- $ --
Fixed charges from above $18,200 $ 42,875 $33,798 $28,926 $27,644 $ 7,637
Preferred stock dividends -- 2,400 4,450 6,001 2,271 1,506
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Combined fixed charges and preferred stock
dividends $18,200 $ 45,276 $38,247 $34,927 $29,915 $ 9,143
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Ratio of earnings to combined fixed charges
and preferred stock dividends 2.26 -- 1.24 1.03 -- 1.40
Deficiency of earnings to combined fixed charges
and preferred stock dividends $ -- $ (89,492) $ -- $ -- $(1,129) $ --