Exhibit 12.1

Paperweight Development Corp. and Subsidiaries

Statement of Computation of Ratio of Earnings to Fixed Charges

(unaudited)

(dollars in thousands)

	(Predecessor Basis)									(Successor Basis)		(Successor Basis)
	1998			1999		2000		For the Period December 31, 2000 to November 9, 2001		For the Period November 10, 2001 to December 29, 2001		2002
Net earnings from continuing operations	$	82,813		$	49,893	$	66,161	$	37,183	$	7,616	$	10,092
Add: Income tax expense		53,716			17,715		32,874		20,625		117		503
Add: Interest expense		60,215			42,926		43,244		25,441		10,638		68,354
Minority interest in net earnings of subsidiaries		5,493			4,896		1,230		—		—		—
Equity in net income of unconsolidated affiliates		(7,313	)		—		—		—		—		—
Portion of rent deemed interest factor		3,878			3,448		3,394		2,485		386		2,930
Total earnings available for fixed charges	$	198,802		$	118,878	$	146,903	$	85,734	$	18,757	$	81,879
Fixed charges:
Interest expense		60,215			42,926		43,244		25,441		10,638		68,354
Portion of rent deemed interest factor		3,878			3,448		3,394		2,485		386		2,930
Total fixed charges	$	64,093		$	46,374	$	46,638	$	27,926	$	11,024	$	71,284
Ratio of earnings to fixed charges		3.1			2.6		3.1		3.1		1.7		1.1