EX-12.1 6 a2228866zex-12_1.htm EX-12.1

Exhibit 12.1

 

MTS Systems Corporation

Computation of Ratio of Earnings to Fixed Charges

(Dollars in thousands)

 

 

 

Fiscal Year Ended

 

Six Months Ended

 

 

 

October 1,
2011

 

September 29,
2012

 

September 28,
2013

 

September 27,
2014

 

October 3,
2015

 

April 2,
2016

 

Ratio of Earnings to Fixed Charges (1):

 

25.04

 

31.50

 

33.38

 

21.16

 

19.89

 

12.17

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reconciliaton:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations before taxes

 

$

73,305

 

$

79,780

 

$

79,254

 

$

58,443

 

$

59,172

 

$

17,311

 

Fixed charges

 

3,050

 

2,616

 

2,448

 

2,899

 

3,133

 

1,550

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings for computation

 

$

76,355

 

$

82,396

 

$

81,702

 

$

61,342

 

$

62,305

 

$

18,861

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest on indebtedness and amortization of debt discount

 

1,283

 

849

 

591

 

1,003

 

1,204

 

585

 

Capitalized interest

 

 

 

 

 

 

 

Interest expense on rental expense (1/3 rent)

 

1,767

 

1,767

 

1,857

 

1,896

 

1,929

 

965

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Fixed Charges

 

$

3,050

 

$

2,616

 

$

2,448

 

$

2,899

 

$

3,133

 

$

1,550

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Lease Expense

 

5,300

 

5,300

 

5,570

 

5,687

 

5,787

 

2,894

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest Income

 

(368

)

(544

)

(257

)

(311

)

(409

)

(127

)

Interest Expense

 

1,283

 

849

 

591

 

1,003

 

1,204

 

585

 

Net Interest

 

915

 

305

 

334

 

692

 

795

 

458

 

 


(1) For the purposes of calculating the ratio of earnings to fixed charges, “earnings” consist of income (loss) from continuing operations before income taxes, fixed charges, and amortization of capitalized interest, but excludes equity method investment earnings and capitalized interest. “Fixed charges” consist of (i) interest on indebtedness, whether expensed or capitalized, (ii) that portion of rental expense which we believe to be representative of interest (one-third of rental expense) and (iii) amortization of debt discount and expense.