EX-12.1 3 0003.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT 12.1 CALIFORNIA STEEL INDUSTRIES, INC. AND SUBSIDIARY Computation of Ratio of Earnings to Fixed Charges (All dollar amounts in thousands)
Year Ended December 31, ----------------------------------------------------------- 2000 1999 1998 1997 1996 ------ ------ ------ ------ ------ Income before income taxes............................. 56,138 77,027 26,816 44,316 67,725 Fixed charges.......................................... 19,837 17,861 19,645 16,642 12,578 Amortization of capitalized interest................... 534 686 609 409 198 Capitalized interest................................... (300) (588) (1,940) (1,952) (1,667) ------ ------ ------ ------ ------ Earnings............................................. 76,209 94,986 45,130 59,415 78,834 ------ ------ ------ ------ ------ Imputed interest relating to rental expense............ 460 470 169 83 58 Interest expense....................................... 19,377 17,391 19,476 16,559 12,520 ------ ------ ------ ------ ------ Fixed charges........................................ 19,837 17,861 19,645 16,642 12,578 ------ ------ ------ ------ ------ Ratio of earnings to fixed charges..................... 3.8 5.3 2.3 3.6 6.3
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