EX-12.1 31 file027.htm COMPUTATION OF RATIO Table of Contents

Exhibit 12.1

Computation of Ratio of Earnings to Fixed Charges


  Successor Predecessor
(Honeywell)
Predecessor
(Novar)
Predecessor (Novar)
  Period
from
December 15
to 31,
Period
from
April 1 to
December 14,
Three
Months
Ended
March 31,
Year
Ended
December 31,
  2005 2005 2005 2004 2003 2002 2001
COMPUTATION OF EARNINGS                                          
Income (loss) before taxes   (2.1   51.0     18.5     87.9     75.6     83.9     84.5  
Net interest expense   0.1     1.8     0.7     2.6     3.1     2.6     2.3  
Interest portion of operating lease expense   2.9     3.5     5.7     19.4     27.2     13.5     40.6  
Earnings   0.8     56.3     24.9     109.9     105.8     100.1     127.4  
                                           
COMPUTATION OF FIXED CHARGES                                          
Net interest expense   0.1     1.8     0.7     2.6     3.1     2.6     2.3  
Capitalized interest   2.9     3.5     5.7     19.4     27.2     13.5     40.6  
Fixed Charges   2.9     5.3     6.4     22.0     30.2     16.1     42.9  
                                           
Ratio of Earnings to Fixed Charges   0.3 (1)    10.6     3.9     5.0     3.5     6.2     3.0  
(1) Due to the Company's loss in the period shown, the ratio coverage was less than 1:1. In order to achieve a ratio of 1:1, the Company would have to have generated additional pre-tax income of $2.1 million in the period from December 15 to December 31, 2005.