Collins & Aikman Corporation and Subsidiaries
Ration of earnings to combined fixed charges and preferred stock dividends
Exhibit 12.1
(In $ Millions)
Three Months
Fiscal Year Ending March 31,
-------------------------------------------------------- ---------------------
2001 2000 1999 1998 1997 2002 2001
---- ---- ---- ---- ---- ---- ----
FIXED CHARGES
Interest expense, net $ 84.3 $ 96.6 $ 92.0 $ 82.0 $ 77.6 $ 37.3 $ 23.3
Interest income 2.0 3.4 2.5 3.7 5.7 0.1 0.7
-------- --------- -------- -------- -------- -------- --------
Interest expense, gross from continuing ops 86.3 100.0 94.5 85.7 83.3 37.4 24.0
Capitalized interest - 0.1 0.8 0.5 - - -
Interest expense from discontinued operations - - - - 12.5 - -
-------- --------- -------- -------- -------- -------- --------
Total interest expense, gross (a) 86.3 100.1 95.3 86.2 95.8 37.4 24.0
Interest portion of rental expense 9.7 6.9 7.2 5.8 5.1 3.7 1.7
Pre-tax earnings required to cover preferred
stock dividends and accretion of subsidiary 4.0 - - - - - -
-------- --------- -------- -------- -------- -------- --------
FIXED CHARGES $ 100.0 $ 106.9 $ 101.7 $ 91.5 $ 88.4 $ 41.1 $ 25.7
======== ========= ======== ======== ======== ======== ========
TOTAL EARNINGS
Pre-tax income from continuing operations $ (68.3) $ 0.8 $ (1.1) $ 5.2 $ 2.9 $ (0.1) $ (15.0)
(Income) loss from equity investees 0.0 0.7 0.2 0.1 (0.8) 0.0 0.0
-------- --------- -------- -------- -------- -------- --------
Total (68.3) 1.5 (0.9) 5.3 2.1 (0.1) (15.0)
ADD:
Fixed charges 100.0 106.9 101.7 91.5 88.4 41.1 25.7
Distributed income of equity investees - 0.5 - - - - -
SUBTRACT:
Interest capitalized - 0.1 0.8 0.5 - - -
-------- --------- -------- -------- -------- -------- --------
TOTAL EARNINGS $ 31.8 $ 108.8 $ 100.0 $ 96.3 $ 90.5 $ 41.0 $ 10.6
======== ========= ======== ======== ======== ======== ========
RATIO OF EARNINGS TO FIXED CHARGES 0.32 1.02 0.98 1.05 1.02 1.00 0.41
Dollar value of deficiency (68.3) (1.7) (0.1) (15.1)
(a) - Includes amortization of debt issuance costs
(b) - Earnings for the year were inadequate to cover fixed charges. The dollar
value of the deficiency is disclosed.