Guitar Center 10-K 2002 FY Annual report

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Exhibit 12.1

Guitar Center, Inc.
Computation of Ratio of Earnings to Fixed Charges
(Dollars in thousands)
(unaudited)

			Year Ended December 31,
			2002		2001		2000		1999		1998
Income before income taxes and extraordinary loss			$	40,801	$	29,276	$	35,758	$	18,959	$	13,258
	Add: Interest expense			13,077		13,411		12,466		11,235		10,844
		Portion of rents representative of interest factor		7,827		6,708		5,196		3,916		2,632
		Earnings as adjusted		61,705		49,395		53,420		34,110		26,734
Fixed charges:
		Interest expense		13,077		13,411		12,466		11,235		10,844
		Portion of rents representative of interest factor		7,827		6,708		5,196		3,916		2,632
		Total fixed charges		20,904		20,119		17,662		15,151		13,476
Ratio of earnings fixed charges				3.0		2.5		3.0		2.3		2.0

(a)

The ratio of earnings to fixed charges has been computed based upon earnings (loss) before provision for income taxes and fixed charges. Fixed charges consist of interest expense and one third of rental expense (the proportion deemed representative of the interest factor).

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Exhibit 12.1