Exhibit 12.2

 

Thermon Holding Corp.

 

Computation of Ratio of Earnings to Fixed Charges

(dollars in thousands, except ratio data)

 

 

 

Predecessor

 

Predecessor
Successor
Combined

 

Successor

 

 

 

2010

 

Year Ended March 31
2011

 

2012

 

Earnings

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations before provision for income taxes

 

$

32,906

 

$

(26,481

)

$

19,498

 

 

 

 

 

 

 

 

 

Plus: Fixed Charges

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense and amortization of premiums/discounts (a)

 

7,357

 

29,200

 

19462

 

Estimated interest component of rental expense

 

566

 

677

 

739

 

 

 

 

 

 

 

 

 

Total Fixed Charges

 

$

7,923

 

$

29,677

 

$

20,201

 

 

 

 

 

 

 

 

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pre tax income from continuing operations plus fixed charges

 

$

40,829

 

$

3,196

 

$

39,699

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges

 

5.2

x

nm

(b)

2.0

x

 


(a)         The Company considers one-third of rent expense to be a reasonable estimate of the related interest expense.

(b)        Earnings were insufficient to cover fixed charges in the fiscal year ended March 31, 2011 by $56.2 million due to increased interest and amortization expenses, financing fees and other non-recurring expenses related to the acquisition of a controlling interest in the Company by an investor group led by our private equity sponsors, which was completed on April 30, 2010.