EX-12 5 k65785a1ex12.txt STATEMENT RE COMPUTATION OF RATIOS OF EARNINGS EXHIBIT 12 PLASTIPAK HOLDINGS, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (DOLLAR AMOUNTS IN THOUSANDS)
Years ended ----------------------------------------------------- 11/1/97 10/31/98 10/30/99 10/28/00 11/03/01 Earnings before income taxes, extraordinary item $ 10,000 $ (2,530) $ 6,503 $ (388) $ 10,431 and change in accounting principal Add: Interest on indebtedness 15,063 22,079 27,157 28,390 30,424 Portion of rents representative of the interest factor 5,045 3,900 4,407 4,241 3,615 ----------------------------------------------------- Earnings available for fixed charges $ 30,108 $ 23,449 $ 38,067 $ 32,243 $ 44,470 ===================================================== Fixed Charges: Interest on indebtedness $ 15,063 $ 22,079 $ 27,157 $ 28,390 $ 30,424 Portion of rents representative of the interest factor 5,045 3,900 4,407 4,241 3,815 Amortization of loan costs -- -- 22 1,243 1,571 ----------------------------------------------------- Total fixed charges $ 20,108 $ 25,979 $ 31,586 $ 33,874 $ 35,610 ===================================================== Ratio of earnings to fixed charges 1.50X 0 1.21X 0 1.25X (a) (a)
(a) For the years ended October 28, 2000 and October 31, 1998, earnings were inadequate to cover fixed charges by $1,631 and $2,530, respectively.