EX-12.1 6 exhibit12_1.htm EXHIBIT 12.1 - COMPUTATION OF RATIO OF EARNINGS Exhibit 12.1

Exhibit 12.1
 

Moog, Inc.

Computation of Ratio of Earnings to Fixed Charges

(dollars in thousands)
 
 

Three Months Ended
Dec. 31,

 

Fiscal Year
 

2003

2002

  

2003

  

2002

  

2001

  

2000

  

1999

Earnings:

                                        

Earnings before income taxes

$

18,338

  

$

13,779

  

$

58,249

  

$

52,990

  

$

42,013

  

$

38,615

  

$

36,728

Fixed charges included in earnings

  

4,781

    

6,818

    

22,817

    

31,802

    

36,983

    

38,268

    

32,804

 

                                        

Earnings

$

23,119

  

$

20,597

  

$

81,066

  

$

84,792

  

$

78,996

  

$

76,883

  

$

69,532
                                         

Fixed charges:

                                        

Interest expense

$

3,185

  

$

5,374

  

$

17,122

  

$

26,242

  

$

32,054

  

$

33,271

  

$

28,188

Amortization of debt issuance costs

  

353

    

293

    

1,092

    

1,174

    

1,177

    

1,293

    

1,413

Interest component of rent expense

  

1,241

    

1,149

    

4,595

    

4,378

    

3,744

    

3,696

    

3,195

Preferred stock dividend

  

2

    

2

    

8

    

8

    

8

    

8

    

8
                                         

Fixed charges

$

4,781

  

$

6,818

  

$

22,817

  

$

31,802

  

$

36,983

  

$

38,268

  

$

32,804
                                         

Ratio of Earnings to Fixed Charges

  

4.8

    

3.0

    

3.6

    

2.7

    

2.1

    

2.0

    

2.1