EX-12.1 5 esl-ex121_201410317.htm EX-12.1

Exhibit 12.1

ESTERLINE TECHNOLOGIES CORPORATION

(In thousands)

Statement of Computation of Ratio of Earnings to Fixed Charges

 

 

2014

 

 

2013

 

 

2012

 

 

2011

 

 

2010

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings from Continuing

   Operations Before Income Taxes

$

210,834

 

 

$

206,615

 

 

$

142,010

 

 

$

162,790

 

 

$

147,781

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges 1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

33,010

 

 

 

39,638

 

 

 

46,227

 

 

 

40,633

 

 

 

34,024

 

 

Interest included in rental expense

 

6,059

 

 

 

5,680

 

 

 

5,583

 

 

 

4,841

 

 

 

4,420

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Fixed Charges

 

39,069

 

 

 

45,318

 

 

 

51,810

 

 

 

45,474

 

 

 

38,444

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings 2

$

249,903

 

 

$

251,933

 

 

$

193,820

 

 

$

208,264

 

 

$

186,225

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings available to

   cover fixed charges

6.4

 

 

5.6

 

 

3.7

 

 

4.6

 

 

4.8

 

 

 

1

Fixed charges consist of interest on indebtedness and amortization of debt issuance cost plus that portion of lease rental expense representative of the interest factor.

2

Earnings consist of earnings from continuing operations before income taxes plus fixed charges.