Exhibit 12.1
POWER SOLUTIONS INTERNATIONAL, INC.
COMPUTATION OF EARNINGS TO FIXED CHARGES
(in thousands of dollars)
| Three months ended March 31, |
Year ended December 31, | |||||||||||||||||||||||
| 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||
| Earnings available for fixed charges: |
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| Pre-tax (loss) income |
$ | (72 | ) | $ | 34,539 | $ | (14,001 | ) | $ | 10,845 | $ | 6,834 | $ | 1,935 | ||||||||||
| Distributed equity income of affiliated companies |
— | — | — | — | — | — | ||||||||||||||||||
| Add: Fixed charges |
765 | 2,420 | 1,548 | 1,848 | 1,901 | 2,593 | ||||||||||||||||||
| Less: Capitalized interest |
— | — | — | — | — | — | ||||||||||||||||||
| Less: Net income - noncontrolling interests |
— | — | — | — | — | — | ||||||||||||||||||
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| Total Earnings available for fixed |
$ | 693 | $ | 36,959 | $ | (12,453 | ) | $ | 12,693 | $ | 8,735 | $ | 4,528 | |||||||||||
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| Fixed charges: |
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| Interest charged to expense |
$ | 489 | $ | 1,331 | $ | 657 | $ | 1,023 | $ | 1,340 | $ | 2,131 | ||||||||||||
| Amortization of capitalized interest expenses related to indebtedness |
— | — | — | — | — | — | ||||||||||||||||||
| Portion of rental expense which represents interest factor (2) |
276 | 1,089 | 891 | 825 | 561 | 462 | ||||||||||||||||||
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| Total Fixed charges (3) |
$ | 765 | $ | 2,420 | $ | 1,548 | $ | 1,848 | $ | 1,901 | $ | 2,593 | ||||||||||||
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| Ratio of earnings to fixed charges |
n/a | 15.27x | n/a | 6.87x | 4.59x | 1.75x | ||||||||||||||||||
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| Amount by which earnings are inadequate to cover fixed charges |
$ | 72 | n/a | $ | 14,001 | n/a | n/a | n/a | ||||||||||||||||
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| (1) | For the purpose of calculating the ratio of earnings to fixed charges, earnings consists of (loss) income before income taxes plus fixed charges. |
| (2) | Estimated interest factor of 33%. |
| (3) | For the purpose of calculating the ratio of earnings to fixed charges, fixed charges consists of interest expense and an estimate of the portion of rental expense that represents the interest factor. |