EnerSys - FORM 10-K - EX-12.1 - COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - June 1, 2010

Attached files

file filename
10-K - ENERSYS -- FORM 10-K - EnerSysd10k.htm
EX-31.2 - CERTIFICATION OF CHIEF FINANCIAL OFFICER - EnerSysdex312.htm
EX-32.1 - CERTIFICATION OF CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER - EnerSysdex321.htm
EX-31.1 - CERTIFICATION OF CHIEF EXECUTIVE OFFICER - EnerSysdex311.htm
EX-21.1 - SUBSIDIARIES OF THE REGISTRANT - EnerSysdex211.htm
EX-23.1 - CONSNET OF ERNST & YOUNG LLP - EnerSysdex231.htm
EX-10.14 - CONSULTING AND SEPARATION AGREEMENT - MICHAEL T. PHILION - EnerSysdex1014.htm
EX-10.31 - FORM OF MARKED BASED RESTRICTED STOCK UNIT AGREEMENT - EMPLOYEES - EnerSysdex1031.htm
EX-10.30 - FORM OF RESTRICTED STOCK UNIT AGREEMENT - EMPLOYEES - EnerSysdex1030.htm

Exhibit 12.1

RATIO OF EARNINGS TO FIXED CHARGES

EnerSys

Computation of Ratio of Earnings to Fixed Charges

The following table sets forth the ratio of earnings to fixed charges of the Company for the five fiscal years ended March 31, 2010:

 

     Fiscal year ended March 31,
     2010    2009    2008    2007    2006
     (dollars in thousands)

Earnings:

               

Income before provision for income taxes

    $ 87,255    $ 119,100    $ 86,195    $ 63,102    $ 44,803

Plus: fixed charges

      32,573      37,544      39,140      38,638      33,835
                                  

Total

      119,828      156,644      125,335      101,740      78,638
                                  

Fixed charges:

               

Interest expense

    $ 23,587    $ 27,795    $ 29,746    $ 29,613    $ 25,582

Interest within rental expense

      8,986      9,749      9,394      9,025      8,253
                                  

Total

      32,573      37,544      39,140      38,638      33,835
                                  

Ratio of earnings to fixed charges

      3.68      4.17      3.20      2.63      2.32
                                  

NOTE: These Ratios include EnerSys and its consolidated subsidiaries. The ratio of earnings to fixed charges was computed by dividing earnings by fixed charges for the periods indicated, where “earnings” consist of (1) earnings from operations before income taxes plus (2) fixed charges, and “fixed charges” consist of (a) interest, whether expensed or capitalized, on all indebtedness, including non-cash interest accreted on Convertible Notes of $5,439 and $4,261, respectively, in fiscal 2010 and fiscal 2009, (b) amortization of premiums, discounts and capitalized expenses related to indebtedness, and (c) an interest component representing one-third of total operating lease rental expense, which is that portion deemed to be interest. Interest on FIN 48 liabilities is included in the tax provision in the Company’s Consolidated Statements of Income and is excluded from the computation of fixed charges.

Stock widget

Investing forum

EnerSys Reports