EXHIBIT 12.1
STEEL HEDDLE MFG. CO.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
FISCAL YEAR ENDED
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January 2, 1999
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(SUCCESSOR) (PREDECESSOR)
32 WEEKS 20 WEEKS
ENDED ENDED
JANUARY 2, MAY 25,
1998 1998 1997 1996 1995 1994
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Earnings (losses) from
continuing operations
before income taxes $ (8,782) $5,209 $11,482 $ 4,237 $ 3,613 $ 3,836
Add:
Net interest expense
excluding capitalized
interest 9,053 1,499 5,154 5,849 6,330 7,098
Amortization of debt
expense 265 50 130 105 105 105
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Total earnings $ 536 $6,758 $16,766 $10,191 $10,048 $11,039
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Fixed charges:
Net interest expense including
capitalized interest $ 9,053 $1,499 $ 5,154 $ 5,849 $ 6,330 $ 7,098
Amortization of debt expense 265 50 130 105 105 105
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Total fixed charges $ 9,318 $1,549 $ 5,284 $ 5,954 $ 6,435 $ 7,203
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Ratio of earnings to fixed charges -- 4.4 3.2 1.7 1.6 1.5
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Deficiency in the coverage of fixed
charges $(8,782) $ -- $ -- $ -- $ -- $ --
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For purposes of these computations, the ratio of earnings to fixed charges has
been calculated by dividing pretax earnings by fixed charges. Earnings, as used
to compute the ratio, equals the sum of income before income taxes and fixed
charges excluding capitalized interest. Fixed charges are the total interest
expenses including capitalized interest and amortization of debt expenses. The
interest factor on operating leases is insignificant.