Attached files
file | filename |
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10-K - FORM 10-K - American Railcar Industries, Inc. | c97389e10vk.htm |
EX-31.2 - EXHIBIT 31.2 - American Railcar Industries, Inc. | c97389exv31w2.htm |
EX-21.1 - EXHIBIT 21.1 - American Railcar Industries, Inc. | c97389exv21w1.htm |
EX-32.1 - EXHIBIT 32.1 - American Railcar Industries, Inc. | c97389exv32w1.htm |
EX-31.1 - EXHIBIT 31.1 - American Railcar Industries, Inc. | c97389exv31w1.htm |
EX-23.1 - EXHIBIT 23.1 - American Railcar Industries, Inc. | c97389exv23w1.htm |
Exhibit 12.1
American Railcar Industries, Inc.
Computation of Ratio of Earnings to Fixed Charges
(dollars in thousands)
Computation of Ratio of Earnings to Fixed Charges
(dollars in thousands)
Years ended December 31, | ||||||||||||||||||||
2009 | 2008 | 2007 | 2006 | 2005 | ||||||||||||||||
Earnings: |
||||||||||||||||||||
Earnings before income tax expense |
$ | 22,026 | $ | 49,785 | $ | 59,368 | $ | 55,956 | $ | 24,124 | ||||||||||
Loss (income) from joint venture |
6,797 | (718 | ) | (881 | ) | 734 | (610 | ) | ||||||||||||
Fixed charges |
21,679 | 21,169 | 18,303 | 2,727 | 7,163 | |||||||||||||||
Total earnings |
$ | 50,502 | $ | 70,236 | $ | 76,790 | $ | 59,417 | $ | 30,677 | ||||||||||
Fixed charges: |
||||||||||||||||||||
Interest expense (including amortized
premiums, discounts and capitalized expenses
relating to indebtedness) |
$ | 20,909 | $ | 20,299 | $ | 17,027 | $ | 1,372 | $ | 4,846 | ||||||||||
Estimate of interest within rental expense (1) |
770 | 870 | 1,276 | 1,355 | 2,317 | |||||||||||||||
Total fixed charges |
$ | 21,679 | $ | 21,169 | $ | 18,303 | $ | 2,727 | $ | 7,163 | ||||||||||
Ratio of earnings to fixed charges |
2.33 | 3.32 | 4.20 | 21.79 | 4.28 |
(1) | Deemed to represent one-third of rental expense on operating leases. |