PILLOWTEX CORPORATION AND SUBSIDIARIES
CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES
EXHIBIT 12.1
YEARS ENDED
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PRO FORMA
12/31/91 12/31/92 12/31/93 12/31/94 12/30/95 12/30/95 9/30/95
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EARNINGS:
Earnings before income taxes $ 13,830 11,429 21,200 12,425 18,978 16,240 11,666
Fixed charges from below 5,878 5,624 3,666 7,004 19,055 21,860 14,137
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Earnings as adjusted(A) 19,708 17,053 24,866 19,429 38,033 38,100 25,803
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FIXED CHARGES:
Interest expense $ 5,283 4,997 3,042 6,361 17,491 19,936 12,964
Amortization of debt issuance costs - - - - 544 904 408
Interest component of rent expense (Note) 595 627 624 643 1,020 1,020 765
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Fixed charges as adjusted(B) $ 5,878 5,624 3,666 7,004 19,055 21,860 14,137
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Ratio of earnings to fixed charges (A) divided by (B) $ 3.35 3.03 6.78 2.77 2.00 1.74 1.83
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NINE MONTHS ENDED
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PRO FORMA PRO FORMA
9/30/95 9/28/96 9/28/96
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EARNINGS:
Earnings before income taxes $ 9,282 14,049 10,224
Fixed charges from below 16,553 11,986 15,857
Earnings as adjusted(A) 25,835 26,035 26,081
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FIXED CHARGES:
Interest expense 15,110 10,279 13,879
Amortization of debt issuance costs 678 408 678
Interest component of rent expense (Note) 765 1,300 1,300
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Fixed charges as adjusted(B) 16,553 11,986 15,857
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Ratio of earnings to fixed charges (A) divided by (B) 1.56 2.17 1.64
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Note: Approximately one-third of rent expense which management believes
is representative of the interest component.