Attached files
| file | filename |
|---|---|
| EX-32.2 - EXHIBIT 32.2 - MTS SYSTEMS CORP | exhibit322q420170930.htm |
| EX-32.1 - EXHIBIT 32.1 - MTS SYSTEMS CORP | exhibit321q420170930.htm |
| EX-31.2 - EXHIBIT 31.2 - MTS SYSTEMS CORP | exhibit312q420170930.htm |
| EX-31.1 - EXHIBIT 31.1 - MTS SYSTEMS CORP | exhibit311q420170930.htm |
| EX-23.1 - EXHIBIT 23.1 - MTS SYSTEMS CORP | exhibit231q420170930.htm |
| EX-21.1 - EXHIBIT 21.1 - MTS SYSTEMS CORP | exhibit211q420170930.htm |
| 10-K - 10-K - MTS SYSTEMS CORP | mts10k20170930.htm |
Exhibit 12.1
MTS Systems Corporation
Computation of Ratio of Earnings to Fixed Charges
(Dollars in thousands)
Fiscal Year Ended | ||||||||||||||||||||
September 28, 2013 | September 27, 2014 | October 3, 2015 | October 1, 2016 | September 30, 2017 | ||||||||||||||||
Ratio of Earnings to Fixed Charges (1) | 33.38 | 21.16 | 19.89 | 3.97 | 1.71 | |||||||||||||||
Reconciliation | ||||||||||||||||||||
Income from continuing operations before taxes | $ | 79,254 | $ | 58,443 | $ | 59,172 | $ | 33,512 | $ | 23,798 | ||||||||||
Fixed charges | 2,448 | 2,899 | 3,133 | 11,277 | 33,720 | |||||||||||||||
Earnings for computation | $ | 81,702 | $ | 61,342 | $ | 62,305 | $ | 44,789 | $ | 57,518 | ||||||||||
Fixed charges | ||||||||||||||||||||
Interest on indebtedness and amortization of debt discount | 591 | 1,003 | 1,204 | 8,926 | 31,218 | |||||||||||||||
Interest expense on rental expense (1/3 rent) | 1,857 | 1,896 | 1,929 | 2,351 | 2,502 | |||||||||||||||
Total fixed charges | $ | 2,448 | $ | 2,899 | $ | 3,133 | $ | 11,277 | $ | 33,720 | ||||||||||
Lease expense | 5,570 | 5,687 | 5,787 | 7,053 | 7,506 | |||||||||||||||
Interest income | (257 | ) | (311 | ) | (409 | ) | (437 | ) | (397 | ) | ||||||||||
Interest expense | 591 | 1,003 | 1,204 | 8,926 | 31,218 | |||||||||||||||
Net interest | $ | 334 | $ | 692 | $ | 795 | $ | 8,489 | $ | 30,821 | ||||||||||
(1) For the purposes of calculating the ratio of earnings to fixed charges, “earnings” consists of income (loss) from continuing operations before income taxes, fixed charges and amortization of capitalized interest, but excludes equity method investment earnings and capitalized interest. “Fixed charges” consists of (i) interest on indebtedness, whether expensed or capitalized, (ii) that portion of rental expense which we believe to be representative of interest (one-third of rental expense) and (iii) amortization of debt discount and expense.