EX-12.1 2 d240750dex121.htm RATIO OF EARNINGS TO FIXED CHARGES Ratio of Earnings to Fixed Charges

Exhibit 12.1

QUANEX BUILDING PRODUCTS CORPORATION

RATIO OF EARNINGS TO FIXED CHARGES

(In thousands, except ratio amounts)

Ratio of earnings to fixed charges is computed by dividing earnings, as defined, by fixed charges. Fixed charges consist of interest charges, (both expensed and capitalized), amortization of debt issuance costs and the portion of rental expense representative of the interest factor. The computation is as follows:

 

     Fiscal years ended October 31,  
     2007      2008      2009     2010      2011  

Earnings:

             

Income from continuing operations before taxes

   $ 87,961       $ 25,808       $ (179,145   $ 39,502       $ 15,515   

Add: fixed charges (from below)

     2,265         2,113         2,067        2,039         2,441   
  

 

 

    

 

 

    

 

 

   

 

 

    

 

 

 
   $ 90,226       $ 27,921       $ (177,078   $ 41,541       $ 17,956   
  

 

 

    

 

 

    

 

 

   

 

 

    

 

 

 

Fixed Charges:

             

Interest expense

   $ 582       $ 441       $ 383      $ 371       $ 380   

Debt issuance amortization

     9         39         69        69         69   

Capitalized interest

     —           —           —          —           —     

1/3 of rental expense

     1,674         1,633         1,615        1,599         1,992   
  

 

 

    

 

 

    

 

 

   

 

 

    

 

 

 
   $ 2,265       $ 2,113       $ 2,067      $ 2,039       $ 2,441   
  

 

 

    

 

 

    

 

 

   

 

 

    

 

 

 

Ratio of earnings to fixed charges

     39.8x         13.2x         A        20.4x         7.4x   
  

 

 

    

 

 

    

 

 

   

 

 

    

 

 

 

 

A. During the twelve months ended October 31, 2009, the ratio coverage was negative. In order to achieve a coverage of 1:1, the Company would have had to generate additional income from continuing operations before income taxes of $ 179,145 for the twelve months ended October 31, 2009.