Exhibit 12.1
Paperweight Development Corp. and Subsidiaries
Statement of Computation of Ratio of Earnings to Fixed Charges
(unaudited)
| Three Months Ended | |||||||||||||||||||||||||||
| (Successor Basis) | Predecessor Basis | ||||||||||||||||||||||||||
| April 3, 2005 | April 4, 2004 | 2004 | 2003 | 2002 | For the Period November 10, 2001 to December 29, 2001 | For the Period December 31, 2000 to November 9, 2001 | 2000 | ||||||||||||||||||||
Net earnings from continuing operations | $ | (4,283 | ) | $ | 5,511 | $ | (25,031 | ) | $ | 11,159 | $ | 10,092 | $ | 7,616 | $ | 37,183 | $ | 66,161 | |||||||||
Add: Income tax expense | (766 | ) | (324 | ) | 249 | 83 | 503 | 117 | 20,625 | 32,874 | |||||||||||||||||
Add: Interest expense | 12,256 | 13,706 | 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 | 813 | 901 | 3,347 | 2,662 | 2,930 | 386 | 2,485 | 3,394 | |||||||||||||||||||
Total earnings available for fixed charges | $ | 8,020 | $ | 19,794 | $ | 28,160 | $ | 68,064 | $ | 81,879 | $ | 18,757 | $ | 85,734 | $ | 146,903 | |||||||||||
Fixed charges: | |||||||||||||||||||||||||||
Interest expense | 12,256 | 13,706 | 49,595 | 54,160 | 68,354 | 10,638 | 25,441 | 43,244 | |||||||||||||||||||
Portion of rent deemed interest factor | 813 | 901 | 3,347 | 2,662 | 2,930 | 386 | 2,485 | 3,394 | |||||||||||||||||||
Total fixed charges | $ | 13,069 | $ | 14,607 | $ | 52,942 | $ | 56,822 | $ | 71,284 | $ | 11,024 | $ | 27,926 | $ | 46,638 | |||||||||||
Ratio of earnings to fixed charges | 0.6 | 1.4 | 0.5 | 1.2 | 1.1 | 1.7 | 3.1 | 3.1 | |||||||||||||||||||