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EXHIBIT 12.1
SCHOLASTIC CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(AMOUNTS IN MILLIONS, EXCEPT RATIO DATA)
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Nine Months
Ended
February 28, 2003
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(Unaudited)
Earnings:
Pretax earnings from continuing operations $ 44.8
Fixed charges 36.4
Less: interest capitalized -
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Earnings $ 81.2
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Fixed Charges:
Interest expensed $ 23.4
Interest capitalized -
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Interest factor, included in consolidated rental expense 13.0
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Fixed Charges $ 36.4
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Ratio of earnings to fixed charges 2.23
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TWELVE MONTHS ENDED MAY 31,
2002 2001 2000 1999 1998
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Earnings:
Pretax earnings from continuing operations $ 153.3 $ 57.1 $ 80.4 $ 58.9 $ 38.1
Fixed charges 49.6 59.9 32.5 30.5 29.0
Less: interest capitalized (1.8) (3.3) (1.4) (0.6) -
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Earnings $ 201.1 $ 113.7 $ 111.5 $ 88.8 $ 67.1
========== ========== ========== ========== ==========
Fixed Charges:
Interest expensed $ 31.6 $ 41.9 $ 19.1 $ 19.2 $ 20.3
Interest capitalized 1.8 3.3 1.4 0.6 -
Interest factor, included in consolidated rental expense 16.2 14.7 12.0 10.7 8.7
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Fixed Charges $ 49.6 $ 59.9 $ 32.5 $ 30.5 $ 29.0
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Ratio of earnings to fixed charges 4.05 1.90 3.43 2.91 2.31
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