EXHIBIT 12.1
LABOR READY, INC. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(UNAUDITED)
| | | | | | | FOR THE SIX MONTHS ENDED June 29, 2001 | FOR THE SIX MONTHS ENDED June 28, 2002 | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | FOR THE YEARS ENDED DECEMBER 31, | |||||||||||||||||||||
| | 1997 | 1998 | 1999 | 2000 | 2001 | |||||||||||||||||
| | (In thousands, except ratio) | |||||||||||||||||||||
| EARNINGS AS DEFINED: | ||||||||||||||||||||||
| Income (loss) before taxes and cumulative effect of accounting change | $ | 12,522 | $ | 33,390 | $ | 40,430 | $ | 15,945 | $ | 14,687 | $ | (132 | ) | $ | (240 | ) | ||||||
| Fixed charges | 1,779 | 3,881 | 5,840 | 6,938 | 7,142 | 3,602 | 3,595 | |||||||||||||||
| Earnings as defined | $ | 14,301 | $ | 37,271 | $ | 46,270 | $ | 22,883 | $ | 21,829 | $ | 3,470 | $ | 3,355 | ||||||||
| FIXED CHARGES AS DEFINED: | ||||||||||||||||||||||
| Estimate of interest within rental expense | $ | 1,673 | $ | 3,000 | $ | 4,522 | $ | 5,942 | $ | 5,980 | $ | 3,120 | $ | 2,893 | ||||||||
| Interest expense | 105 | 881 | 1,318 | 996 | 1,030 | 442 | 601 | |||||||||||||||
| Amortized premiums related to indebtedness | — | — | — | — | 132 | 40 | 101 | |||||||||||||||
| Fixed charges as defined | $ | 1,779 | $ | 3,881 | $ | 5,840 | $ | 6,938 | $ | 7,142 | $ | 3,602 | $ | 3,595 | ||||||||
| RATIO OF EARNINGS TO FIXED CHARGES | 8.0x | 9.6x | 7.9x | 3.3x | 3.1x | — | — | |||||||||||||||
