EXHIBIT 12.1
Registration Under The Securities Act of 1933 Section 2500
Ratio of Earnings to Fixed Charges
Sealy Corporation
Computation of Ratio of Earnings to Fixed Charges
(dollars in thousands)
Proforma
---------------
Two Ten Three
Months Months Three Months Ended Months
Ended Ended Fiscal Year -------------------- Fiscal Ended
Jan. 31, Nov. 30, ------------------------------------- Mar. 2, Mar. 1, Year Mar. 1,
1993 1993 1994 1995 1996 1997 1997 1998 1997 1998
---- ---- ---- ---- ---- ---- ---- ---- ---- ----
Pre-tax income from
continuing operations $2,637 $48,711 $56,090 $43,042 $24,773 $40,611 $ 6,352 $(18,512) $ 6,495 $(652)
Fixed charges:
Interest expense and
amortization of debt
discount and premium on
all indebtedness 6,675 31,218 33,454 31,018 28,797 31,396 10,184 15,530 63,976 16,442
Rentals-33% (b) 551 2,757 3,295 3,265 3,523 3,470 767 1,010 3,470 1,010
------- -------- -------- -------- -------- -------- ------- -------- ------- -------
Total fixed charges 7,226 33,975 36,749 34,283 32,320 34,866 10,951 16,540 67,446 17,452
------- -------- -------- -------- -------- -------- ------- -------- ------- -------
Earnings before income
taxes and fixed charges $9,863 $82,686 $92,839 $77,325 $57,093 $75,477 $17,303 $ (1,972) $73,941 $16,800
======== ========= ======== ======== ======== ========= ======== ========= ======= =======
Ratio of earnings to fixed
charges 1.4x 2.4x 2.5x 2.3x 1.8x 2.2x 1.6x (a) 1.1x 1.0x
======== ========= ======== ======== ======== ========= ======== ========= ======= =======
(a) Earnings for the quarter ended March 1, 1998 were insufficient to cover
fixed charges by $18.5 million.
(b) The precent of rent included in the calculation is a reasonable
approximation of the interest factor in the Company's operating leases.