EX-12 2 a6627179ex12.htm EXHIBIT 12 a6627179ex12.htm
Exhibit 12
 
VERSO PAPER HOLDINGS LLC
  
RATIO OF EARNINGS TO FIXED CHARGES
  
(Unaudited)
  
                                 
Predecessor
  
   
Successor Consolidated
    
Combined
  
                           
Five Months
    
Seven Months
  
                           
Ended
    
Ended
  
   
Year Ended December 31,
    
December 31,
    
July 31,
  
(Dollars in thousands)
  
2010
    
2009
    
2008
    
2007
    
2006
    
2006
  
Earnings (Loss):
                                    
Income (loss)
   $ (125,480 )   $ 80,702     $ (39,151 )   $ (81,269 )   $ (1,832 )   $ 17,751  
Amortization of capitalized interest
     167       152       103       18       -       5,005  
Capitalized interest
     (1,268 )     (396 )     (1,408 )     (1,247 )     (206 )     (338 )
Fixed charges (below)
     126,105       118,768       106,629       117,038       49,424       9,420  
Earnings (loss) adjusted for fixed charges
   $ (476 )   $ 199,226     $ 66,173     $ 34,540     $ 47,386     $ 31,838  
                                                 
Fixed charges:
                                                
Interest expense
   $ 122,528     $ 116,130     $ 103,200     $ 113,881     $ 48,741     $ 8,414  
Capitalized interest
     1,268       396       1,408       1,247       206       338  
Portion of rent expense representative of interest
     2,309       2,242       2,021       1,910       477       668  
Total fixed charges
   $ 126,105     $ 118,768     $ 106,629     $ 117,038     $ 49,424     $ 9,420  
Ratio of earnings to fixed charges
     -       1.68       -       -       -       3.38  
Coverage deficiency
   $ 126,581     $ -     $ 40,456     $ 82,498     $ 2,038     $ -