JPS TEXTILE GROUP, INC. Exhibit 12.2 COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS (In thousands) Fiscal Year Ended Three Months Ended --------------------------------------------------------- --------------------- 11/03/90 11/02/91 10/31/92 10/30/93 10/29/94 01/29/94 01/28/95 (53 Weeks) (52 Weeks) (52 Weeks) (52 Weeks) (52 Weeks) (13 Weeks) (13 Weeks) ---------- ---------- ---------- ---------- ---------- ---------- ---------- Earnings: Loss before income taxes, discontinued operations, extraordinary items and cumulative effects of accounting changes per consolidated statements of operations $ (41,313) $ (48,649) $ (25,186) $ (37,595) $ (35,321) $(13,018) $(5,398) Add: Interest on indebtedness 56,449 44,722 41 ,473 49,988 45,002 12,564 7,643 Interest accretion and debt issuance cost amortization 24,431 25,111 18,805 12,208 11,450 2,922 2,422 Portion of rents representative of the interest factor 921 1,137 1,320 1,198 1,347 321 351 ---------- --------- --------- --------- --------- -------- -------- Total earnings $ 40,488 $ 22,321 $ 36,412 $ 25,799 $ 22,478 $ 2,789 $ 5,018 ========== ========= ========= ========= ========= ======== ======== Fixed Charges: Interest on indebtedness 56,449 44,722 41,473 49,988 45,002 12,564 7,643 Interest accretion and debt issuance cost amortization 24,431 25,111 18,805 12,208 11,450 2,922 2,422 Portion of rents representative of the interest factor 921 1,137 1,320 1,198 1,347 321 351 ---------- --------- --------- --------- --------- -------- -------- Total fixed charges 81,801 70,970 61,598 63,394 57,799 15,807 10,416 Senior redeemable preferred stock in-kind dividends and discount accretion 5,299 3,769 2,459 2,863 3,333 809 930 ---------- --------- --------- --------- --------- -------- -------- Combined fixed charges and preferred stock dividends $ 87,100 $ 74,739 $ 64,057 $ 66,257 $ 61,132 $16,616 $11,346 ========== ========= ========= ========= ========= ======== ======== Ratio of earnings to fixed charges and preferred stock dividends - - - - - - - ========== ========= ========= ========= ========= ======== ======== Deficiency of earnings to cover fixed charges and preferred stock dividends $ 46,612 $ 52,418 $ 27,645 $ 40,458 $ 38,654 $13,827 $ 6,328 ========== ========= ========= ========= ========= ======== ========