Exhibit 12.1
Paperweight Development Corp. and Subsidiaries
Statement of Computation of Ratio of Earnings to Fixed Charges
(unaudited)
| (Successor Basis) | Predecessor Basis | ||||||||||||||||||
| 2004 | 2003 | 2002 | For the Period December 29, 2001 | For the Period December 31, 2000 to November 9, 2001 | 2000 | ||||||||||||||
Net earnings from continuing operations | $ | (25,031 | ) | $ | 11,159 | $ | 10,092 | $ | 7,616 | $ | 37,183 | $ | 66,161 | ||||||
Add: Income tax expense | 249 | 83 | 503 | 117 | 20,625 | 32,874 | |||||||||||||
Add: Interest expense | 49,595 | 54,160 | 68,354 | 10,638 | 25,441 | 43,244 | |||||||||||||
Minority interest in net earnings of subsidiaries | — | — | — | — | — | 1,230 | |||||||||||||
Portion of rent deemed interest factor | 3,347 | 2,662 | 2,930 | 386 | 2,485 | 3,394 | |||||||||||||
Total earnings available for fixed charges | $ | 28,160 | $ | 68,064 | $ | 81,879 | $ | 18,757 | $ | 85,734 | $ | 146,903 | |||||||
Fixed charges: | |||||||||||||||||||
Interest expense | 49,595 | 54,160 | 68,354 | 10,638 | 25,441 | 43,244 | |||||||||||||
Portion of rent deemed interest factor | 3,347 | 2,662 | 2,930 | 386 | 2,485 | 3,394 | |||||||||||||
Total fixed charges | $ | 52,942 | $ | 56,822 | $ | 71,284 | $ | 11,024 | $ | 27,926 | $ | 46,638 | |||||||
Ratio of earnings to fixed charges | 0.5 | 1.2 | 1.1 | 1.7 | 3.1 | 3.1 | |||||||||||||