EX-12.1 38 dex121.htm STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Statement regarding computation of ratio of earnings to fixed charges

EXHIBIT 12.1

Thermon Holding Corp.

Computation of Ratio of Earnings to Fixed Charges

(amounts in thousands)

 

    Pre-
Predecessor/
Predecessor
Combined
  Predecessor   Predecessor
Successor
Combined
 
    Fiscal Year Ended March 31,   Three Months Ended June 30  
    2008   2009   2010   2009   2010  

Earnings

         

Income (loss) from continuing operations before provision for income taxes

  $ 699   $ 28,196   $ 32,906   $ 9,602   $ (30,773

Plus: Fixed Charges

         

Interest expense and amortization of premiums/discounts (a)

    8,374     9,625     7,357     2,068     12,074   

Estimated interest component of rental expense

    574     535     566     138     147   
                               

Total Fixed Charges

  $ 8,948   $ 10,160   $ 7,923   $ 2,206   $ 12,221   

Less:

         

Pre tax income from continuing operations plus fixed charges

  $ 9,647   $ 38,356   $ 40,829   $ 11,808   $ (18,552

Ratio of Earnings to Fixed Charges (b)

    1.1     3.8     5.2     5.4     nm   

 

(a) The Company considers one-third of rent expense to be a reasonable estimate of the related interest expense.
(b) Earnings for the three months ended June 30, 2010 were significantly affected by one-time costs related to the Transactions. If earnings were adjusted to exclude the $5.0 million purchase accounting inventory amortization expense, $5.3 million amortization of intangibles and $20.0 million in transaction costs associated with the Transactions, the ratio of earnings to fixed charges for the three months ended June 30, 2010 would be 1.0x.