ARKANSAS AEROSPACE INC - FORM S-1 - EX-12.1 - COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - April 8, 2011

Attached files

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S-1 - FORM S-1 AND POST-EFFECTIVE AMENDMENT NO. 3 TO FORM S-1 - ARKANSAS AEROSPACE INCds1.htm
EX-3.14.1 - ARTICLES OF INCORPORATION OF HAWKER BEECHCRAFT INTERNATIONAL HOLDING, INC. - ARKANSAS AEROSPACE INCdex3141.htm
EX-21.1 - LIST OF SUBSIDIARIES - ARKANSAS AEROSPACE INCdex211.htm
EX-23.4 - CONSENT OF PRICEWATERHOUSECOOPERS LLP - ARKANSAS AEROSPACE INCdex234.htm
EX-4.10 - SECOND SUPPLEMENTAL SENIOR NOTES INDENTURE - ARKANSAS AEROSPACE INCdex410.htm
EX-4.11 - SECOND SUPPLEMENTAL SENIOR SUBORDINATED NOTES INDENTURE - ARKANSAS AEROSPACE INCdex411.htm
EX-3.15.1 - CERTIFICATE OF FORMATION OF HAWKER BEECHCRAFT DEFENSE COMPANY, LLC - ARKANSAS AEROSPACE INCdex3151.htm
EX-3.15.2 - OPERATING AGREEMENT OF HAWKER BEECHCRAFT DEFENSE COMPANY, LLC - ARKANSAS AEROSPACE INCdex3152.htm
EX-10.34 - PROFESSIONAL SERVICES AGREEMENT - ARKANSAS AEROSPACE INCdex1034.htm
EX-3.14.2 - NAME CHANGE AMENDMENT OF HAWKER BEECHCRAFT INTERNATIONAL HOLDING, INC. - ARKANSAS AEROSPACE INCdex3142.htm
EX-3.14.3 - AMENDED AND RESTATED BYLAWS OF HAWKER BEECHCRAFT HOLDING, INC. - ARKANSAS AEROSPACE INCdex3143.htm

Exhibit 12.1

Ratio of Earnings to Fixed Charges

 

     Successor     Predecessor  
     Year
Ended
December  31,
2010		     Year
Ended
December  31,
2009		     Year
Ended
December  31,
2008		     Nine Months
Ended
December 31,
2007		     Three Months
Ended
March 25,
2007		      Year
Ended
December  31,
2006		  
 

Earnings

                

- Pre-tax (loss) income from continuing operations

    $ (303.4 )    $ (512.0 )    $ (54.7 )    $ (5.0 )    $ 16.6       $ 140.6   

- Fixed charges

      136.5        159.5        209.9        160.4        17.9         99.7   
                                                 

Net earnings

    $ (166.9 )    $ (352.5 )    $ 155.2      $ 155.4      $ 34.5       $ 240.3   
                                                 
 

Fixed Charges

                

- External interest expense

    $ 120.3      $ 141.5      $ 196.3      $ 151.0      $ —         $ —     

- Intercompany interest expense, net

      —          —          —          —          15.8         91.6   

- Amortized premiums, discounts and capitalized expenses related to indebtedness

      11.5        13.1        9.6        7.2        —           —     

- Estimate of interest expense within rental expense

      4.7        4.9        4.0        2.2        2.1         8.1   
                                                 

Total fixed charges

    $ 136.5      $ 159.5      $ 209.9      $ 160.4      $ 17.9       $ 99.7   
                                                 
 

Ratio of earnings to fixed charges(1)

      -1.22X        -2.21X        0.74X        0.97X        N/A         N/A   

Deficiency

      303.4        512.0        54.7        5.0        N/A         N/A   

 

(1) For purposes of computing the ratio of earnings to fixed charges, earnings consist of income before income tax plus fixed charges. Fixed charges consist of interest expense and a portion of operating rental expense that management believes is representative of the interest component of rental expense. For periods in which the ratio of earnings is less than 1.0, the amounts shown as Deficiency represent the additional earnings that would be necessary to raise the ratio to 1.0. For the Predecessor periods, the ratio of earnings to fixed charges is not meaningful, given the fact that debt was not held by the Predecessor business.