EX-12 5 dex12.txt COMPUTATION OF RATIO OF EARNINGS Exhibit 12.1 Paperweight Development Corp. and Subsidiaries Statement of Computation of Ratio of Earnings to Fixed Charges (unaudited)
Three Months Ended ------------------------ (Successor (Predecessor (Successor (Predecessor Basis) Basis) Basis) Basis) ------------------------------------------------------------ ------------ ------------ ---------- For the For the Period Period December 31, November 10, 2000 to 2001 to November 9, December 29, April 1, March 31, 1997 1998 1999 2000 2001 2001 2001 2002 --------- --------- --------- --------- ------------ ------------ -------- --------- Net earnings from continuing operations $ 129,651 $ 82,813 $ 49,893 $ 70,812 $ 43,626 $ 7,616 $ 2,312 $ 10,486 Add: Income tax expense 70,611 53,716 17,715 35,725 24,574 117 1,468 79 Add: Interest expense 30,931 60,215 42,926 43,244 25,441 10,638 7,720 19,373 Minority interest in net earnings of subsidiaries 1,237 5,493 4,896 1,230 -- -- -- -- Equity in net income of unconsolidated affiliates 46 (7,313) -- -- -- -- -- -- Portion of rent deemed interest factor 3,993 3,878 3,448 3,394 2,485 386 762 735 --------- --------- --------- --------- ------------ ------- -------- --------- Total earnings available for fixed charges $ 236,469 $ 198,802 $ 118,878 $ 154,405 $ 96,126 $18,757 $ 12,262 $ 30,673 ========= ========= ========= ========= ============ ======= ======== ========= Fixed charges: Interest expense 30,931 60,215 42,926 43,244 25,441 10,638 7,720 19,373 Portion of rent deemed interest factor 3,993 3,878 3,448 3,394 2,485 386 762 735 --------- --------- --------- --------- ------------ ------- -------- --------- Total fixed charges $ 34,924 $ 64,093 $ 46,374 $ 46,638 $ 27,926 $11,024 $ 8,482 $ 20,108 ========= ========= ========= ========= ============ ======= ======== ========= Ratio of earnings to fixed charges 6.8 3.1 2.6 3.3 3.4 1.7 1.4 1.5 ========= ========= ========= ========= ============ ======= ======== =========