Paperweight Development 10-K 2005 FY Annual report

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 November 10, 2001 to 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