Exhibit 12.1
Sealy Corporation/Sealy Mattress Corporation
Computation of Ratio of Earnings to Fixed Charges
| | Fiscal Year Ended | Six Months Ended | ||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | November 28, 1999 | November 26, 2000 | December 2, 2001 | December 1, 2002 | November 30, 2003 | June 1, 2003 | May 30, 2004 | |||||||||||||||
| | (Dollars in thousands) | |||||||||||||||||||||
| Pre-tax income from operations | $ | 32,382 | $ | 57,372 | $ | (8,464 | ) | $ | 24,151 | $ | 36,465 | $ | 13,994 | $ | (95,902 | ) | ||||||
Fixed charges: | ||||||||||||||||||||||
| Interest expense and amortization of debt discount and financing costs | 65,991 | 69,009 | 78,047 | 72,571 | 68,525 | 33,952 | 33,858 | |||||||||||||||
| Rentals—33%(b) | 3,476 | 3,305 | 4,407 | 4,551 | 4,543 | 2,272 | 2,520 | |||||||||||||||
| Total Fixed charges | 69,467 | 72,314 | 82,454 | 77,122 | 73,068 | 36,224 | 36,378 | |||||||||||||||
Earnings before income taxes and fixed charges | 101,849 | 129,686 | 73,990 | 101,273 | 109,533 | 50,218 | (59,524 | ) | ||||||||||||||
| Ratio of earnings to fixed charges(a) | 1.5 | x | 1.8 | x | — | 1.3 | x | 1.5 | x | 1.4 | x | — | ||||||||||
- (a)
- For the year ended December 2, 2001 and the six months ended May 30, 2004, earnings were insufficient to cover fixed charges by $8.5 million and $95.9 million, respectively.
- (b)
- The percent of rent included in the calculation is a reasonable approximation of the interest factor in the Company's operating leases.