EX-12.1 2 f10614a2exv12w1.htm EXHIBIT 12.1 exv12w1
 

EXHIBIT 12.1
GENCORP
RATIO OF EARNINGS TO FIXED CHARGES
                                                 
    Year ended November 30,   Six Months
        Ended
    2000   2001   2002   2003   2004   May 31, 2005
                         
Income (loss) from continuing operations before income taxes
     77       250       19       11       (57 )     (24 )
Earnings of non-consolidated subsidiaries
     —       —       —       —       —       —  
Minority Interest
     —       —       —       —       —       —  
Fixed charges
     16       29       13       27       — *     — *
Earnings available for fixed charges
     93       279       32       38       (57 )     (24 )
Fixed Charges
                                                
Amortization of debt issuance costs
     —       3       4       5       —       —  
Interest Expense
     16       26       9       22       —       —  
Total Fixed Charges
     16       29       13       27       —       —  
Ratio of Earnings to Fixed Charges
     5.8       9.6       2.5       1.4       — *     — *
 
*  For fiscal 2004 and the six months ended May 31, 2005, our earnings were insufficient to cover fixed charges by $57 million and $24 million, respectively.
      A pro forma ratio of earnings to fixed charges has not been presented as our earnings were insufficient to cover fixed charges for fiscal 2004.