EX-12.01 8 g67688ex12-01.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES 1 EXHIBIT 12.01 CARAUSTAR INDUSTRIES, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (DOLLARS IN THOUSANDS)
1996 1997 1998 1999 2000 --------- --------- --------- -------- -------- EARNINGS: Income from continuing operations before income taxes, minority interest, reversal of loss on discontinued operations and cumulative effect of accounting changes .................................................. $ 95,230 $ 83,388 $ 83,018 $ 64,641 $ 13,788 Equity in income of less-than-50-percent-owned entities ................................................. (104) (40) 12 0 0 Fixed charges .............................................. 12,865 16,536 19,469 30,528 42,513 Less capitalized interest expense .......................... -- -- (219) (626) (852) --------- --------- --------- -------- -------- Earnings ................................................... $ 107,991 $ 99,884 $ 102,280 $ 94,543 $ 55,449 ========= ========= ========= ======== ======== FIXED CHARGES: Interest expense ........................................... $ 10,698 $ 14,111 $ 16,072 $ 25,735 $ 36,467 Amortization of debt issuance costs ........................ 348 -- -- 142 737 Estimate of the interest cost within rental expense ........ 1,819 2,425 3,178 4,025 4,457 Capitalized interest expense ............................... -- -- 219 626 852 --------- --------- --------- -------- -------- Fixed charges .............................................. $ 12,865 $ 16,536 $ 19,469 $ 30,528 $ 42,513 ========= ========= ========= ======== ======== Ratio of earnings to fixed charges ......................... 8.39 6.04 5.25 3.10 1.30 ========= ========= ========= ======== ========
46