Exhibit 12.1
ISG Resources, Inc.
Statement re Computation of Ratio of Earnings to Fixed Charges
(in thousands, except ratios)
Historical
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Six Months 2 1/2 Months 9 1/2 Months
Ended Ended Ended
June 30, December 31, October 31, Year Ended December 31,
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1998 1997 1997 1997 1996 1995 1994 1993
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Fixed Charges:
Interest on debt $3,346 $2,222 $ 628 $ 4,160 $ 4,853 $ 4,081 $ 17 $ --
Amortization of debt issuance costs 128 -- -- -- -- -- -- --
Interest portion of rental expense 1,034 935 420 1,448 2,045 2,016 1,616 692
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Total fixed charges $4,508 $3,157 $ 1,048 $ 5,608 $ 6,898 $ 6,097 $1,633 $ 692
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Earnings:
Pre-tax income (loss) from
continuing operations $2,045 $ 46 $ 517 $ (2,478) $(2,232) $(2,541) $6,873 $ 9,687
Add back fixed charges 4,508 3,157 1,048 5,608 6,898 6,097 1,633 692
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Total earnings $6,553 $3,203 $ 1,565 $ 3,130 $ 4,666 $ 3,556 $8,506 $10,379
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Ratio of Earnings to Fixed Charges 1.45 1.01 1.49 0.56 0.68 0.58 5.21 15.00
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Deficit of Earnings to Fixed Charges $ -- $ -- $ -- $ 2,478 $ 2,232 $ 2,541 $ -- $ --
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Pro Forma
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Six Months Year
Ended Ended
June 30, December 31,
1998 1997
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Fixed Charges:
Interest on debt $ 5,384 $ 10,767
Amortization of debt issuance costs 281 562
Interest portion of rental expense 1,096 2,287
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Total fixed charges $ 6,761 $ 13,616
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Earnings:
Pre-tax income (loss) from
continuing operations $ (201) $ (872)
Add back fixed charges 6,761 13,616
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Total earnings $ 6,560 $ 12,744
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Ratio of Earnings to Fixed Charges 0.97 0.94
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Deficit of Earnings to Fixed Charges $ 201 $ 872
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