EX-12.1 2 c13378exv12w1.htm EX-12.1 exv12w1
Exhibit 12.1
American Railcar Industries, Inc.
Computation of Ratio of (Loss) Earnings to Fixed Charges
(dollars in thousands)
                                         
    Years ended December 31,  
    2010     2009     2008     2007     2006  
(Loss) earnings:
                                       
(Loss) earnings before income tax expense
  $ (41,801 )   $ 22,026     $ 49,785     $ 59,368     $ 55,956  
Loss (income) from joint venture
    7,789       6,797       (718 )     (881 )     734  
Fixed charges
    21,975       21,679       21,169       18,303       2,727  
 
                             
Total (loss) earnings
  $ (12,037 )   $ 50,502     $ 70,236     $ 76,790     $ 59,417  
 
                                       
Fixed charges:
                                       
Interest expense (including amortized premiums, discounts and capitalized expenses relating to indebtedness)
  $ 21,275     $ 20,909     $ 20,299     $ 17,027     $ 1,372  
Estimate of interest within rental expense (1)
    700       770       870       1,276       1,355  
 
                             
Total fixed charges
  $ 21,975     $ 21,679     $ 21,169     $ 18,303     $ 2,727  
 
                                       
Ratio of (loss) earnings to fixed charges
    -0.55       2.33       3.32       4.20       21.79  
     
(1)   Deemed to represent one-third of rental expense on operating leases.