EX-12.1 3 ex12-1.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES ex12-1.htm
 
Exhibit 12.1
 
Computation of Ratio of Earnings to Fixed Charges
Blount International, Inc.
 
 (Thousands of Dollars)
 
 
   
Six Months Ended
    
Year Ended December 31,
  
   
June 30, 2011
    
2010
    
2009
    
2008
    
2007
    
2006
  
                                     
EARNINGS:
                                    
                                     
Earnings Before Income Taxes
     42,714       52,611       30,266       60,485       46,328       42,825  
                                                 
Interest Expense, Including Amortization of
Debt Issuance Costs
     9,782        25,636       24,707       27,094       33,066       35,782  
 
                                                
Interest Portion of Fixed Rent (1)
     357       715       426       433       387       495  
                                                 
Undistributed Earnings of Unconsolidated
    Subsidiaries
     -       -       -       -       -       -  
                                                 
Earnings, as Adjusted
     52,853       78,962       55,399       88,012       79,781       79,102  
                                                 
                                                 
FIXED CHARGES:
                                                
                                                 
Interest Expense, Including Amortization of
Debt Issuance Costs
     9,782        25,636       24,707       27,094       33,066       35,782  
                                                 
Capitalized Interest
     89       135       292       213       403       303  
                                                 
Interest Portion of Fixed Rent (1)
     357       715       426       433       387       495  
                                                 
Fixed Charges
     10,288       26,486       25,425       27,740       33,856       36,580  
                                                 
                                                 
Ratio of earnings to fixed charges
     5.17       2.98       2.18       3.17       2.36       2.16  
 
There were no dividends paid or accrued during the periods presented.
 
(1) The Company has included 20% of rent expense on operating leases.  Management believes that 20% represents an appropriate implied interest factor for the Company’s operating leases.