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EXHIBIT 12.1
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FISCAL YEARS(1)
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1997 1998 1999 2000 2001 7/29/01 7/30/00
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(DOLLARS IN THOUSANDS)
Income from continuing operations
before income taxes, minority
interest, discontinued operations and
cumulative effect of accounting
change:.............................. $147,050 $178,885 $196,415 $159,059 $(319,230) $(14,164) $ (26,567)
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Plus fixed charges:
Interest on all indebtedness......... 4,035 3,567 9,837 15,243 20,026 5,581 4,510
Distributions on Fleetwood Capital
Trust.............................. -- 3,936 17,523 17,525 17,525 4,381 4,381
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Total fixed charges:................... 4,035 7,503 27,360 32,768 37,551 9,962 8,891
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Less distributions on Fleetwood Capital
Trust:............................... -- (3,936) (17,523) (17,525) (17,525) (4,381) (4,381)
Earnings:.............................. $151,085 $182,452 $206,252 $174,302 $(299,204) $ (8,583) $ (22,057)
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Fixed charge ratio:.................. 37.4 24.3 7.5 5.3 --(1) --(1) --(1)
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(1) Our ratios of earnings to fixed charges for the fiscal year ended April
29, 2001 and the fiscal quarters ended July 30, 2000 and July 29, 2001 were
not meaningful since earnings were inadequate to cover fixed charges by
$336.8 million, $30.9 million and $18.5 million, respectively.