Cellu Tissue (CLU) S-4/A Registration of securities issued in business combination transactions (amended)

Exhibit 12.1

CLEARWATER PAPER CORPORATION

Computation of Ratio of Earnings to Fixed Charges

(In thousands)

		$000,000			$000,000		$000,000		$000,000		$000,000		$000,000
	Years Ended December 31,											Three Months Ended March 31, 2011
	2010			2009		2008		2007		2006
Earnings before income taxes	$	76,196		$	275,685	$	15,337	$	39,407	$	33,263	$	11,737
Add: Fixed charges		27,382			20,248		17,648		17,489		18,156		13,350
Subtract: Capitalized interest		(480	)		—		—		—		—		(456	)
Earnings available for fixed charges	$	103,098		$	295,933	$	32,985	$	56,896	$	51,419	$	24,631
Fixed charges:
Interest expense	$	22,571		$	15,505	$	13,147	$	13,000	$	13,000	$	11,333
Capitalized interest		480			—		—		—		—		456
Rental expense factor 1		4,331			4,743		4,501		4,489		5,156		1,561
Total fixed charges	$	27,382		$	20,248	$	17,648	$	17,489	$	18,156	$	13,350
Ratio of earnings to fixed charges		3.8			14.6		1.9		3.3		2.8		1.8

¹  “Rental expense factor” is the portion of rental expense estimated to be representative of the interest factor within rental expense.

The ratio of earnings to fixed charges is computed by dividing income before taxes plus fixed charges by fixed charges. Fixed charges consist of interest expense and the estimated portion of rental expense deemed by us to be representative of the interest factor of rental payments under operating leases.