Exhibit 12.1
Ratio of Earnings to Fixed Charges
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Unaudited
Fiscal Year Ended Six Months Ended
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April 25, April 27, April 26, April 25, April 24, October 24, October 23,
1995 1996 1997 1998 1999 1998 1999
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(In millions, except ratios) (In millions, except ratios)
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EARNINGS (Loss):
Income (loss) before income taxes
and minority interests 4.9 18.5 (36.3) 44.5 85.8 37.5 32.5
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Interest expense 13.8 18.4 13.8 8.6 8.9 4.4 6.5
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Rental expense interest component 7.0 6.6 6.4 4.1 3.7 1.6 1.6
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Earnings (Loss) 25.7 43.5 (16.1) 57.2 98.4 43.5 40.6
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FIXED CHARGES:
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Interest expense 13.8 18.4 13.8 8.6 8.9 4.4 6.5
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Rental expense interest component 7.0 6.6 6.4 4.1 3.7 1.6 1.6
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Fixed charges 20.8 25.0 20.2 12.7 12.6 6.0 8.1
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Ratio of earnings to fixed charges 1.2x 1.7x (a) 4.5x 7.8x 7.3x 5.0x
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The data above sets forth the ratio of earnings to fixed charges of
Weight Watchers International, Inc. and Subsidiaries ("WWI") for each
of the years in the five-year period ended April 24, 1999 and for the
six months ended October 24, 1998 and October 23, 1999. The data for
each of the years in the five-year period ended April 24, 1999 are
derived from the audited historical financial statements of WWI,
included elsewhere in this document. The data for the six months
ended October 24, 1998 and October 23, 1999 have been derived from the
unaudited historical financial statements of WWI which are included
elsewhere in this document.
2
(a) Earnings for the period ended April 26, 1997 were inadequate to cover
fixed charges and resulted in a coverage deficiency of approximately $.8
million.