Attached files
| file | filename |
|---|---|
| EX-31.2 - EXHIBIT 31.2 - CPI International Holding Corp. | cpih-2015100210kxex312.htm |
| EX-21.1 - EXHIBIT 21.1 - CPI International Holding Corp. | cpih-2015100210kxex211.htm |
| EX-24.1 - EXHIBIT 24.1 - CPI International Holding Corp. | cpih-2015100210kxex241.htm |
| EX-10.1 - EXHIBIT 10.1 - CPI International Holding Corp. | cpih-2015100210kxex101.htm |
| EX-32.1 - EXHIBIT 32.1 - CPI International Holding Corp. | cpih-2015100210kxxex321.htm |
| EX-32.2 - EXHIBIT 32.2 - CPI International Holding Corp. | cpih-2015100210kxxex322.htm |
| 10-K - 10-K - CPI International Holding Corp. | cpih-2015100210k.htm |
| EX-31.1 - EXHIBIT 31.1 - CPI International Holding Corp. | cpih-2015100210kxex311.htm |
Exhibit 12.1
CPI INTERNATIONAL HOLDING CORP.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in thousands)
Successor(a) | Predecessor(a) | ||||||||||||||||||||||||||
Year Ended | Period February 11 to | Period October 2, 2010 to | |||||||||||||||||||||||||
October 2, 2015 | October 3, 2014 | September 27, 2013 | September 28, 2012 | September 30, 2011 | February 10, 2011 | ||||||||||||||||||||||
Earnings calculation: | |||||||||||||||||||||||||||
Income (loss) before taxes | $ | 9,724 | $ | 16,813 | $ | 16,295 | $ | 7,100 | $ | (8,549 | ) | $ | (3,747 | ) | |||||||||||||
Add back: fixed charges | 37,640 | 33,528 | 28,291 | 28,218 | 18,305 | 6,118 | |||||||||||||||||||||
Calculated earnings | $ | 47,364 | $ | 50,341 | $ | 44,586 | $ | 35,318 | $ | 9,756 | $ | 2,371 | |||||||||||||||
Fixed charges calculation (b) | |||||||||||||||||||||||||||
Interest expense (c) | $ | 36,506 | $ | 32,182 | $ | 27,237 | $ | 27,230 | $ | 17,708 | $ | 5,788 | |||||||||||||||
Interest expense portion of rental expense | 1,134 | 1,346 | 1,054 | 988 | 597 | 330 | |||||||||||||||||||||
$ | 37,640 | $ | 33,528 | $ | 28,291 | $ | 28,218 | 18,305 | 6,118 | ||||||||||||||||||
Ratio: earnings / fixed charges (d) | 1.26 | 1.50 | 1.58 | 1.25 | — | — | |||||||||||||||||||||
Interest expense portion of rental expense: | |||||||||||||||||||||||||||
Rental expense | $ | 3,402 | $ | 4,037 | $ | 3,163 | $ | 2,965 | $ | 1,791 | $ | 990 | |||||||||||||||
Estimated interest cost | 33 | % | 33 | % | 33 | % | 33 | % | 33 | % | 33 | % | |||||||||||||||
Calculated total | $ | 1,134 | $ | 1,346 | $ | 1,054 | $ | 988 | $ | 597 | $ | 330 | |||||||||||||||
(a) | For periods prior to the February 2011 merger with The Veritas Capital Fund IV, L.P., the term “Predecessor” refers to CPI International, Inc. and its consolidated subsidiaries, and, for periods after the said merger, the term “Successor” refers to CPI International Holding Corp. and its consolidated subsidiaries. | ||||||||||||||||||||||||||
(b) | Fixed charges exclude capitalized interest; capitalized interest is zero. | ||||||||||||||||||||||||||
(c) | Includes normal debt issue amortization costs, but does not include gain or loss on debt extinguishment. | ||||||||||||||||||||||||||
(d) | For the periods February 11, 2011 to September 30, 2011 and October 2, 2010 to February 10, 2011, earnings were not sufficient to cover fixed charges by $8,500 and $3,700, respectively. | ||||||||||||||||||||||||||