EX-12.1 4 a2160587zex-12_1.htm EXHIBIT 12.1
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Exhibit 12.1

Pliant Corporation

Statement Regarding Computation of
Ratios of Earnings to Fixed Charges

(in millions of dollars)

 
   Fiscal Year Ended December 31,
    
    
 
   2000
   2001
   2002
   2003
   2004
    
    
Earnings:                            
Income (loss) before taxes   (72.5 ) 4.7   (42.0 ) (87.8 ) (94.6 )      
Fixed charges (from below)   89.5   78.6   78.8   100.6   149.3        
   
 
 
 
 
       
  Earnings   17.0   83.3   36.8   12.8   54.7        
   
 
 
 
 
       

Fixed Charges:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense   87.2   76.0   75.3   96.4   145.7        
  Estimated interest portion of operating leases (assumed 1/3)   2.3   2.6   3.5   4.2   3.6        
   
 
 
 
           
Fixed charges   89.5   78.6   78.8   100.6   149.3        
   
 
 
 
           

Ratio of earnings to fixed charges
 
—
 
1.1
x
—
 
—
 
—
 
 
 
 

Deficiency of earnings to fixed charges
 
(72.5
)
—
 
(42.0
)
(87.8
)
(94.6
)
 
 
 
Six months ended June 30,
    
    
    
    
    
    
    
 
   2004
   2005
    
    
    
    
    
Earnings:                            
Income (loss) before taxes   (44.2 ) (49.7 )                  
Fixed charges (from below)   78.0   76.1                    
   
 
                   
  Earnings   33.8   26.5                    
   
 
                   

Fixed Charges:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense   76.2   74.6                    
  Estimated interest portion of operating leases (assumed 1/3)   1.8   1.5                    
   
 
                   
Fixed charges   78.0   76.1                    
   
 
                   

Ratio of earnings to fixed charges
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Deficiency of earnings to fixed charges
 
(44.2
)
(49.7
)
 
 
 
 
 
 
 
 
 



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Statement Regarding Computation of Ratios of Earnings to Fixed Charges (in millions of dollars)