Attached files
| file | filename |
|---|---|
| 8-K - 8-K - Northrop Grumman Innovation Systems, Inc. | a10-16024_48k.htm |
| EX-99.1 - EX-99.1 - Northrop Grumman Innovation Systems, Inc. | a10-16024_4ex99d1.htm |
| EX-99.2 - EX-99.2 - Northrop Grumman Innovation Systems, Inc. | a10-16024_4ex99d2.htm |
Exhibit 12.1
Alliant Techsystems Inc.
Computation of Ratio of Earnings to Fixed Charges
(Dollars in thousands)
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Fiscal Year Ended March 31, |
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Three Months Ended |
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2010 |
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2010 |
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2009 |
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2008 |
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2007 |
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2006 |
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7/4/10 |
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7/4/10 |
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7/5/09 |
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(pro forma) |
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(actual) |
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(pro forma) |
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(actual) |
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Earnings: |
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Income before income taxes and noncontrolling interest |
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$ |
424,612 |
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$ |
435,417 |
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$ |
298,049 |
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$ |
328,055 |
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$ |
248,077 |
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$ |
215,947 |
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$ |
111,769 |
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$ |
115,424 |
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$ |
110,523 |
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Plus fixed charges |
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99,737 |
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88,932 |
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98,207 |
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113,942 |
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102,689 |
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121,725 |
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24,299 |
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20,644 |
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23,794 |
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Earnings |
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$ |
524,349 |
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$ |
524,349 |
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$ |
396,256 |
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$ |
441,997 |
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$ |
350,766 |
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$ |
337,672 |
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$ |
136,068 |
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$ |
136,068 |
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$ |
134,317 |
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Fixed Charges: |
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Interest expense, including amortization of debt issuance costs |
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$ |
88,299 |
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$ |
77,494 |
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$ |
87,313 |
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$ |
103,904 |
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$ |
92,863 |
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$ |
112,447 |
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$ |
21,354 |
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$ |
17,699 |
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$ |
20,935 |
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Estimated interest factor of rental expense |
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11,438 |
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11,438 |
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10,894 |
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10,038 |
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9,826 |
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9,278 |
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2,945 |
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2,945 |
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2,859 |
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Fixed Charges |
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$ |
99,737 |
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$ |
88,932 |
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$ |
98,207 |
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$ |
113,942 |
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$ |
102,689 |
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$ |
121,725 |
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$ |
24,299 |
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$ |
20,644 |
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$ |
23,794 |
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Ratio of Earnings to Fixed Charges (1) |
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5.26 |
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5.90 |
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4.03 |
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3.88 |
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3.42 |
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2.77 |
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5.60 |
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6.59 |
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5.64 |
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Rent expense |
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71,486 |
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71,486 |
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68,086 |
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62,739 |
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61,410 |
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57,989 |
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18,408 |
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18,408 |
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17,872 |
** |
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Percent of rent expense that represents interest |
|
16 |
% |
16 |
% |
16 |
% |
16 |
% |
16 |
% |
16 |
% |
16 |
% |
16 |
% |
16 |
% |
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(1) For purposes of calculating the ratio of earnings to fixed charges, “earnings” represents income from continuing operations
(2) The pro forma ratio of earnings to fixed charges for the three months ended July 4, 2010 and fiscal 2010 assumes the issuance of $300.0 million aggregate principal amount of 7.25% senior subordinated notes due 2020 and the immediate repayment of all of the company’s outstanding 2.75% convertible senior subordinated notes due 2024.
** Approximates quarterly interest