Exhibit 12.1
Actuant Corporation
Statement Regarding Computation of Ratio of Earnings to Fixed Charges
(amounts in thousands)
Fiscal Year Ended August 31, | Three Months Ended: | |||||||||||||||||||||||||||
2007 | 2008 | 2009 (a) | 2010 | 2011 | Nov 30, 2010 | Nov 30, 2011 | ||||||||||||||||||||||
Earnings (loss) from continuing operations before income tax expense, as reported | $ | 160,753 | $ | 182,280 | $ | 26,593 | $ | 89,202 | $ | 159,207 | $ | 33,572 | $ | 48,402 | ||||||||||||||
Adjustments: | ||||||||||||||||||||||||||||
Add: Fixed charges | 35,240 | 40,170 | 44,630 | 33,863 | 34,864 | 8,076 | 8,955 | |||||||||||||||||||||
Less: Capitalized interest | — | 171 | — | — | — | — | — | |||||||||||||||||||||
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Earnings from continuing operations before income tax expense, as adjusted | 195,993 | 222,279 | 71,223 | 123,065 | 194,071 | 41,648 | 57,357 | |||||||||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||||||
Interest incurred | 33,748 | 38,262 | 42,539 | 32,248 | 32,949 | 7,632 | 8,422 | |||||||||||||||||||||
Interest component of rent expense (estimated at 7.25%) | 1,492 | 1,908 | 2,091 | 1,615 | 1,915 | 444 | 533 | |||||||||||||||||||||
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35,240 | 40,170 | 44,630 | 33,863 | 34,864 | 8,076 | 8,955 | ||||||||||||||||||||||
Earnings to fixed charges ratio | 5.6 | 5.5 | 1.6 | 3.6 | 5.6 | 5.2 | 6.4 |
(a) | Earnings from continuing operations before income tax expense for the fiscal year ended August 31, 2009 included a $31.3 million non-cash impairment charge related to the goodwill, intangible and fixed assets of the recreational vehicle and harsh environment electrical business reporting units (as disclosed in the Company’s Form 10-K filed with the Securities and Exchange Commission on October 28, 2009). Excluding the impairment charge, the earnings to fixed charge coverage ratio would have been 2.3 for the fiscal year ended August 31, 2009. |