EX-12.1 6 v55430orexv12w1.htm EX-12.1 exv12w1
Exhibit 12.1
THE GREENBRIER COMPANIES, INC.
STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
The following table sets forth our consolidated ratio of earnings to fixed changes for the periods indicated.
                                                         
                                            Six Months Ended  
    Fiscal Years Ended August 31     February 28  
    2005     2006     2007     2008     2009     2009     2010  
    (in thousands, except for ratios)  
Earnings (loss) before income tax, noncontrolling interest and equity in unconsolidated subsidiaries
   $ 50,000     $ 60,144     $ 30,914     $ 30,488     $ (74,215 )   $ (19,056 )   $ (10,876 )
Interest expense
     14,835       26,317       43,206       44,320       45,912       20,917       23,517  
Estimated interest portion of rent expense
     5,591       6,465       7,249       11,371       11,869       5,189       5,699  
         
 
   $ 70,426     $ 92,926     $ 81,369     $ 86,179     $ (16,434 )   $ 7,050     $ 18,340  
         
 
                                                        
Fixed charges
   $ 20,426     $ 32,782     $ 50,455     $ 55,691     $ 57,781     $ 26,106     $ 29,216  
 
                                                        
Ratio of earnings to fixed charges (1)
     3.45       2.83       1.61       1.55       (0.28 )     0.27       0.63  
Deficiency of earnings to fixed charges
                                   $ 74,215     $ 19,056     $ 10,876