Exhibit 12.1
ESTERLINE TECHNOLOGIES CORPORATION
(In thousands)
Statement of Computation of Ratio of Earnings to Fixed Charges
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| Eleven |
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| Months |
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| Twelve Months Ended |
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| Ended |
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| 2017 |
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| 2016 |
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| 2015 |
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| 2014 |
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| 2013 |
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| 2015 |
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| (Restated) |
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| (Restated) |
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| (Unaudited) (Recast) (Restated) |
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| (Restated) |
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| (Restated) |
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Earnings from Continuing Operations Before Income Taxes | $ | 153,394 |
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| $ | 136,025 |
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| $ | 151,318 |
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| $ | 211,283 |
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| $ | 203,658 |
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| $ | 112,110 |
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Fixed Charges 1 |
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Interest expense |
| 30,208 |
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| 30,091 |
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| 33,114 |
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| 33,010 |
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| 39,637 |
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| 30,090 |
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Interest included in rental expense |
| 6,085 |
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| 6,423 |
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| 6,785 |
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| 5,936 |
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| 5,620 |
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| 6,219 |
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Total Fixed Charges |
| 36,293 |
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| 36,514 |
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| 39,899 |
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| 38,946 |
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| 45,257 |
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| 36,309 |
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Earnings 2 | $ | 189,687 |
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| $ | 172,539 |
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| $ | 191,217 |
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| $ | 250,229 |
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| $ | 248,915 |
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| $ | 148,419 |
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Ratio of earnings available to cover fixed charges | 5.2 |
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| 4.7 |
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| 4.8 |
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| 6.4 |
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| 5.5 |
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| 4.1 |
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1 | Fixed charges consist of interest on indebtedness and amortization of debt issuance cost plus that portion of lease rental expense representative of the interest factor. |
2 | Earnings consist of earnings from continuing operations before income taxes plus fixed charges. |