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 |
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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 |
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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 |
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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. |
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2 |
Earnings consist of earnings from continuing operations before income taxes plus fixed charges. |