EX-12.1 4 l93085aex12-1.txt EXHIBIT 12.1 EXHIBIT 12.1 PARK-OHIO INDUSTRIES,INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (IN THOUSANDS, EXCEPT RATIO DATA)
.................................... 2001 2000 1999 1998 1997 ---- ---- ---- ---- ---- Earnings from continuing operations before income taxes................ $(36,844) $ 7,906 $28,608 $22,820 $19,199 Less capitalized interest............ (1,000) Fixed charges........................ 35,320 35,084 28,690 20,840 11,495 ------- ------- ------- ------- ------- Earnings available for fixed charges............................ $(1,524) $42,990 $57,298 $42,660 $30,694 Fixed charges: Interest component of rent expense.................... $ 4,212 $ 4,272 $ 3,938 $ 2,352 $ 2,232 Interest expense..................... 31,108 30,812 24,752 17,488 9,101 Interest capitalized................. 1,000 Amortization of deferred financing costs.............................. --(1) (1) --(1) --(1) 162 ------- ------- ------- ------- ------- Total fixed charges.................. $35,320 $35,084 $28,690 $20,840 $11,495 Ratio of earnings to fixed charges............................ (2) 1.23x 2.0x 2.0x 2.7x
(1) Included in interest expense (2) Earnings are inadequate to cover fixed charges for the year ended December 31, 2001, the coverage deficiency totaled $36,844.