PHG Tea Leaves S-4 Registration of securities issued in business combination transactions

Exhibit 12.1

P. H. Glatfelter Company and subsidiaries

Computation of Ratio of Earnings to Fixed Charges

	Year Ended December 31,										Nine Months Ended September 30, 2012
Dollars in thousands	2007		2008		2009		2010		2011
Earnings before income taxes	$	93,932	$	81,026	$	143,146	$	33,530	$	50,845	$	68,098
Interest on indebtedness		27,591		21,525		17,529		22,789		22,956		11,667
Interest factor attributable to rents		1,660		2,347		2,287		2,931		3,217		2,380
Amortization of deferred financing costs		1,431		1,635		1,691		2,758		8,838		913
Earnings before income taxes and fixed charges	$	124,614	$	106,533	$	164,653	$	62,008	$	85,856	$	83,058
Fixed charges:
Interest of indebtedness		27,591		21,525		17,529		22,789		22,956		11,667
Interest factor attributable to rents		1,660		2,347		2,287		2,931		3,217		2,380
Amortization of deferred financing costs		1,431		1,635		1,691		2,758		8,838		913
Total fixed charges	$	30,682	$	25,507	$	21,507	$	28,478	$	35,011	$	14,960
Ratio of earnings to fixed charges		4.1x		4.2x		7.7x		2.2x		2.5x		5.6x