Attached files
| file | filename |
|---|---|
| S-1/A - S-1/A - McJunkin Red Man Corp | y90360a2sv1za.htm |
| EX-5.2 - EX-5.2 - McJunkin Red Man Corp | y90360a2exv5w2.htm |
| EX-23.1 - EX-23.1 - McJunkin Red Man Corp | y90360a2exv23w1.htm |
Exhibit 12.1
McJunkin Red Man Holding Corporation
Ratio of Earnings to Fixed Charges
(in
millions)
| Successor | Predecessor | |||||||||||||||||||||||||||||||||||||||
| Three Months Ended | Eleven Months Ended | One Month Ended | Year Ended | |||||||||||||||||||||||||||||||||||||
| March 31, | Year Ended December 31, | December 31, | January 30, | December 31, | ||||||||||||||||||||||||||||||||||||
| 2011(1) | 2010(2) | 2010(3) | 2009(4) | 2008 | 2007 | 2007 | 2006 | |||||||||||||||||||||||||||||||||
| (Restated) | ||||||||||||||||||||||||||||||||||||||||
Earnings |
||||||||||||||||||||||||||||||||||||||||
Pretax income
(loss) from
continuing
operations |
$ | (1.8 | ) | $ | (18.4 | ) | $ | (75.2 | ) | $ | (354.8 | ) | $ | 406.7 | $ | 82.0 | 11.2 | $ | 117.9 | |||||||||||||||||||||
Fixed Charges |
33.9 | 36.0 | 140.3 | 117.0 | 85.2 | 62.1 | 0.1 | 3.2 | ||||||||||||||||||||||||||||||||
Earnings |
$ | 32.1 | $ | 17.2 | $ | 65.1 | $ | (237.8 | ) | $ | 491.9 | $ | 144.1 | $ | 11.3 | $ | 121.1 | |||||||||||||||||||||||
Fixed charges: |
||||||||||||||||||||||||||||||||||||||||
Interest expense (5) |
$ | 33.5 | $ | 35.3 | $ | 139.6 | $ | 116.5 | $ | 84.5 | $ | 61.7 | $ | 0.1 | $ | 2.8 | ||||||||||||||||||||||||
Interest component
of rental expense |
0.4 | 0.3 | 0.7 | 0.5 | 0.7 | 0.4 | — | 0.4 | ||||||||||||||||||||||||||||||||
Total fixed charges |
33.9 | 35.6 | 140.3 | 117.0 | 85.2 | 62.1 | 0.1 | 3.2 | ||||||||||||||||||||||||||||||||
Ratio of earning to
fixed charges (6) |
— | — | — | — | 5.8x | 2.3x | 107.7x | 38.2x | ||||||||||||||||||||||||||||||||
| (1) | Earnings were insufficient to cover fixed charges by $2 million for the three months ended March 31, 2011. | |
| (2) | Earnings were insufficient to cover fixed charges by $18 million for the three months ended March 31, 2010. | |
| (3) | Earnings were insufficient to cover fixed charges by $75 million for the year ended December 31, 2010. | |
| (4) | Earnings were insufficient to cover fixed charges by $355 million for the year ended December 31, 2009. | |
| (5) | Interest expense includes original issue discount and amortization charges associated with debt issuance costs. | |
| (6) | Certain ratios may not recompute due to rounding differences. |