EX-12 19 file018.txt RATIO OF EARNINGS TO FIXED CHARGES L-3 COMMUNICATIONS HOLDINGS, INC. AND L-3 COMMUNICATIONS CORPORATION RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT 12
L-3 PREDECESSOR ----------------------------------------------------------------------- COMPANY ---------- NINE MONTHS THREE MONTHS ENDED ENDED YEAR ENDED DECEMBER 31, DECEMBER 31, MARCH 31, 2001 2000 1999 1998 1997 1997 ------------- ------------- ------------- ------------- -------------- ------------- Earnings: Income before income taxes ............ $ 186,222 $ 134,079 $ 95,430 $ 53,450 $ 22,992 $ (505) Add: Interest expense .................... 80,002 87,308 56,686 47,015 29,884 8,441 Amortization of debt expense 6,388 5,724 3,904 2,564 1,517 -- Interest component of rent expense ............................ 14,332 11,882 7,500 4,664 3,213 851 --------- --------- --------- --------- -------- -------- Earnings .............................. $ 286,944 $ 238,993 $ 163,520 $ 107,693 $ 57,606 $ 8,787 --------- --------- --------- --------- -------- -------- Fixed charges: Interest expense .................... 80,002 87,308 56,686 47,015 29,884 8,441 Amortization of debt expense 6,388 5,724 3,904 2,564 1,517 -- Interest component of rent expense ............................ 14,332 11,882 7,500 4,664 3,213 851 --------- --------- --------- --------- -------- -------- Fixed charges ......................... $ 100,722 $ 104,914 $ 68,090 $ 54,243 $ 34,614 $ 9,292 --------- --------- --------- --------- -------- -------- Ratio of earnings to fixed charges ..... 2.8x 2.3x 2.4x 2.0x 1.7x n.a.(a) ========= ========= ========= ========= ======== ========
---------- (a) For the three months ended March 31, 1997, earnings were insufficient to cover fixed charges by $.5 million.