EX-12.(A) 4 dex12a.htm RATIO OF EARNINGS TO FIXED CHARGES Prepared by R.R. Donnelley Financial -- RATIO OF EARNINGS TO FIXED CHARGES
AIRBORNE, INC. AND SUBSIDIARIES
 
RATIO OF EARNINGS TO FIXED CHARGES
 
EXHIBIT 12.(a)
(Dollars in thousands)
 
    
For the Quarter Ended June 30, 2002
     
For the Quarter Ended June 30, 2001
  
EARNINGS:
                  
Earnings (loss) before taxes
   
$
1,172
 
   
$
(9,539
)
Fixed charges
   
 
13,268
 
   
 
9,846
 
Less: Capitalized interest expenses
   
 
(428
)
   
 
(529
)
    
  
Total earnings
   
$
14,012
 
   
$
(221
)
    
  
CALCULATION OF FIXED CHARGES:
                  
Net interest expense
   
$
7,485
 
   
$
4,454
 
Add: Capitalized interest expenses
   
 
428
 
   
 
529
 
Add: Interest income
   
 
1,506
 
   
 
207
 
    
  
Gross interest expense
   
 
9,419
 
   
 
5,189
 
DISCOUNTS ON SALES OF RECEIVABLES
   
 
885
 
   
 
2,229
 
AMORTIZATION OF DEBT EXPENSE
   
 
540
 
   
 
109
 
RENTAL EXPENSE:
                  
Total
   
 
24,232
 
   
 
23,188
 
Factor
   
 
10
%
   
 
10
%
    
  
Net “interest” component
   
 
2,423
 
   
 
2,319
 
    
  
TOTAL FIXED CHARGES
   
$
13,268
 
   
$
9,846
 
    
  
RATIO OF EARNINGS TO FIXED CHARGES
   
 
1.06
 
   
 
—