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Previous: AVONDALE INC, 10-K405, EX-10.16, 2000-11-13 |
Next: AVONDALE INC, 10-K405, EX-27, 2000-11-13 |
<PAGE> 1
EXHIBIT 12.1
AVONDALE INCORPORATED
STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS
TO FIXED CHARGES
(AMOUNTS IN MILLIONS, EXCEPT RATIOS)
<TABLE>
<CAPTION>
Fiscal Year Ended
1996 1997 1998 1999 2000
----- ----- ----- ----- -----
<S> <C> <C> <C> <C> <C>
Fixed Charges:
Interest expense $18.5 $26.2 $23.3 $23.0 $20.2
Discount and expenses on sale of
accounts receivable 3.7 6.6 7.3 5.6 5.6
Amortization of debt issuance costs .9 1.1 1.1 1.1 1.1
----- ----- ----- ----- -----
Fixed Charges $23.1 $33.9 $31.7 $29.7 $26.9
===== ===== ===== ===== =====
Earnings
Pretax income before
extraordinary item $22.7 $37.9 $55.4 $16.3 $51.6
Fixed charges 23.1 33.9 31.7 29.7 26.9
----- ----- ----- ----- -----
Earnings $45.8 $71.8 $87.1 $46.0 $78.5
===== ===== ===== ===== =====
Ratio of Earnings to Fixed Charges 2.0x 2.1x 2.8x 1.5x 2.9x
</TABLE>
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