Plum Creek Timber (PCL) 10-Q 2007 Q2 Quarterly report

Exhibit 12.1

Plum Creek Timber Company, Inc.

Ratio of Earnings to Fixed Charges

			Years Ended December 31,
(In Millions)	6 Months Ended June 30, 2007		2006		2005		2004		2003		2002
Consolidated pretax income from continuing operations	$	101	$	328	$	339	$	366	$	186	$	235
Interest and other financial charges included in expense		72		138		118		118		126		113
Interest portion of rental expense		1		2		1		1		1		1
Earnings	$	174	$	468	$	458	$	485	$	313	$	349
Interest and other financial charges	$	72	$	138	$	118	$	118	$	126	$	113
Interest portion of rental expense		1		2		1		1		1		1
Fixed Charges	$	73	$	140	$	119	$	119	$	127	$	114
Ratio of Earnings to Fixed Charges		2.4		3.3		3.8		4.1		2.5		3.1