Attached files
| file | filename |
|---|---|
| 10-K - FORM 10-K - Quanex Building Products CORP | c93823e10vk.htm |
| EX-32 - EXHIBIT 32 - Quanex Building Products CORP | c93823exv32.htm |
| EX-21.1 - EXHIBIT 21.1 - Quanex Building Products CORP | c93823exv21w1.htm |
| EX-23.1 - EXHIBIT 23.1 - Quanex Building Products CORP | c93823exv23w1.htm |
| EX-31.2 - EXHIBIT 31.2 - Quanex Building Products CORP | c93823exv31w2.htm |
| EX-31.1 - EXHIBIT 31.1 - Quanex Building Products CORP | c93823exv31w1.htm |
Exhibit 12.1
QUANEX CORPORATION
RATIO OF EARNINGS TO FIXED CHARGES
(In thousands, except ratio amounts)
RATIO OF EARNINGS TO FIXED CHARGES
(In thousands, except ratio amounts)
Ratio of earnings to fixed charges is computed by dividing earnings, as defined, by fixed charges. Fixed charges consist of interest charges,
(both expensed and capitalized), amortization of debt issuance costs and the portion of rental expense representative of the interest factor.
The computation is as follows:
| Fiscal years ended October 31, | ||||||||||||||||||||
| 2005 | 2006 | 2007 | 2008 | 2009 | ||||||||||||||||
Earnings: |
||||||||||||||||||||
Income from continuing operations
before taxes |
$ | 99,893 | $ | 103,966 | $ | 87,961 | $ | 25,689 | $ | (180,127 | ) | |||||||||
Add: fixed charges (from below) |
2,261 | 2,857 | 2,265 | 2,113 | 2,068 | |||||||||||||||
| $ | 102,154 | $ | 106,823 | $ | 90,226 | $ | 27,802 | $ | (178,059 | ) | ||||||||||
Fixed Charges: |
||||||||||||||||||||
Interest expense |
$ | 1,354 | $ | 1,002 | $ | 582 | $ | 441 | $ | 384 | ||||||||||
Debt issuance amortization |
— | 21 | 9 | 39 | 69 | |||||||||||||||
Capitalized interest |
— | — | — | — | — | |||||||||||||||
1/3 of rental expense |
907 | 1,834 | 1,674 | 1,633 | 1,615 | |||||||||||||||
| $ | 2,261 | $ | 2,857 | $ | 2,265 | $ | 2,113 | $ | 2,068 | |||||||||||
Ratio of earnings to fixed charges |
45.2x | 37.4x | 39.8x | 13.2x | A | |||||||||||||||
A. During the twelve months ended October 31, 2009, the ratio coverage was negative. In order to achieve a coverage of 1:1, the Company would have had to generage additional income from continuing
operations before income taxes of $180,127 for the twelve months ended October 31, 2009.