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Previous: ICON INTERNATIONAL HOLDINGS INC, S-4/A, EX-5.1, 2000-10-10 |
Next: ICON INTERNATIONAL HOLDINGS INC, S-4/A, EX-23.1, 2000-10-10 |
<PAGE>
EXHIBIT 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(IN MILLIONS, EXCEPT RATIO INFORMATION)
<TABLE>
<CAPTION>
FOR THE YEAR ENDED MAY 31,
----------------------------------------------------------------
HISTORICAL PRO FORMA
---------------------------------------------------- ---------
1996 1997 1998 1999 2000 2000
-------- -------- -------- -------- -------- ---------
<S> <C> <C> <C> <C> <C> <C>
Income (loss) before income taxes and
extraordinary item............................. $24.4 $(15.9) $(15.4) $(12.5) $(1.0) $ 3.1
----- ------ ------ ------ ----- -----
Interest expense................................. 27.9 33.6 35.0 33.0 33.9 30.6
Interest portion of rentals...................... 0.8 2.8 3.1 2.9 2.6 2.6
Amortization of deferred financing fees.......... 2.5 3.0 4.8 7.0 2.7 2.0
----- ------ ------ ------ ----- -----
Total fixed charges.............................. $31.2 $ 39.4 $ 42.9 $ 42.9 $39.2 $35.2
----- ------ ------ ------ ----- -----
Earnings available for fixed charges............. $55.6 $ 23.5 $ 27.5 $ 30.4 $38.2 $38.3
===== ====== ====== ====== ===== =====
Ratio of earnings to fixed charges............... 1.8 0.6 0.6 0.7 1.0 1.1
===== ====== ====== ====== ===== =====
Excess (deficiency) to cover fixed charges....... $24.4 $(15.9) $(15.4) $(12.5) $(1.0) $ 3.1
===== ====== ====== ====== ===== =====
</TABLE>
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