Exhibit 12.1

American Railcar Industries, Inc.

Computation of Ratio of Earnings (Loss) to Fixed Charges

(dollars in thousands)

		September 30,		September 30,			September 30,		September 30,			September 30,
	Years Ended December 31,
	2011		2010			2009		2008			2007
Earnings (loss):
Earnings (loss) before income taxes	$	8,202	$	(41,801	)	$	22,026	$	49,785		$	59,368
Loss (income) from joint ventures		7,900		7,789			6,797		(718	)		(881	)
Fixed charges		21,066		21,975			21,679		21,169			18,303
Total earnings (loss)	$	37,168	$	(12,037	)	$	50,502	$	70,236		$	76,790
Fixed charges:
Interest expense (including amortized premiums, discounts and capitalized expenses relating to indebtedness)	$	20,291	$	21,275		$	20,909	$	20,299		$	17,027
Estimate of interest within rental expense (1)		775		700			770		870			1,276
Total fixed charges	$	21,066	$	21,975		$	21,679	$	21,169		$	18,303
Ratio of earnings (loss) to fixed charges		1.76		(0.55	)		2.33		3.32			4.20

(1) Deemed to represent one-third of rental expense on operating leases.