Attached files
Exhibit 12.1
| Ratio of Earnings to Fixed Charges Great Lakes Dredge & Dock Corporation (dollars in thousands) |
| 2005 | 2006 | 2007 | 2008 | 2009 | ||||||||||||||||
| Pretax income (loss) from continuing operations (1) |
$ | (10,393 | ) | $ | 1,270 | $ | 11,519 | $ | 9,126 | $ | 26,102 | |||||||||
| Fixed charges |
29,866 | 31,521 | 26,055 | 24,931 | 24,338 | |||||||||||||||
| Capitalized interest |
- | - | - | (259 | ) | (162 | ) | |||||||||||||
| Distributed income of equity investees |
1,625 | 650 | 2,400 | 625 | 621 | |||||||||||||||
| $ | 21,098 | $ | 33,441 | $ | 39,974 | $ | 34,423 | $ | 50,899 | |||||||||||
| Fixed charges: |
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| Interest expense and amortization of deferred financing costs |
$ | 23,275 | $ | 24,547 | $ | 18,209 | $ | 17,395 | $ | 16,393 | ||||||||||
| Estimated interest expense in operating leases |
6,591 | 6,974 | 7,846 | 7,536 | 7,945 | |||||||||||||||
| Total fixed charges |
$ | 29,866 | $ | 31,521 | $ | 26,055 | $ | 24,931 | $ | 24,338 | ||||||||||
| Ratio of earnings to fixed charges |
0.7 | (2) | 1.1 | 1.5 | 1.4 | 2.1 | ||||||||||||||
(1) Before adjustment for noncontrolling interests in consolidated subsidiaries and income (loss) from equity investees.
(2) Deficiency in earnings totaled $8,768 in 2005.