EX-12.1 3 a2133829zex-12_1.htm EXHIBIT 12.1
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Exhibit 12.1


KinderCare Learning Centers, Inc.
Computation of Ratio of Earnings to Fixed Charges
(in thousands)

 
   
   
   
   
   
  Forty Weeks Ended
 
  Fiscal Year Ended
 
  March 7,
2003

  March 5,
2004

 
  1999
  2000
  2001
  2002
  2003
Earnings:                                          
  Income before income taxes, discontinued operations and cumulative effect of change in accounting principle   $ 19,341   $ 29,880   $ 26,281   $ 28,386   $ 25,102   $ 18,222   $ 13,132
  Add fixed charges:                                          
    Interest expense including amortization of deferred financing costs and excluding capitalized interest     41,839     45,365     48,815     44,072     41,032     31,791     36,772
    Interest factor in rents     9,258     9,402     12,432     15,637     17,257     13,171     13,903
   
 
 
 
 
 
 
      Total earnings, as defined   $ 70,438   $ 84,647   $ 87,528   $ 88,095   $ 83,391   $ 63,184   $ 63,807
   
 
 
 
 
 
 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
  Interest expense, including amortization of deferred financing costs and capitalized interest   $ 43,036   $ 46,035   $ 49,243   $ 44,983   $ 41,652   $ 32,278   $ 36,985
  Interest factor in rents     9,258     9,402     12,432     15,637     17,257     13,171     13,903
   
 
 
 
 
 
 
      Total fixed charges, as defined   $ 52,294   $ 55,437   $ 61,675   $ 60,620   $ 58,909   $ 45,449   $ 50,888
   
 
 
 
 
 
 
Ratio of earnings to fixed charges     1.35x     1.53x     1.42x     1.45x     1.42x     1.39x     1.25x



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KinderCare Learning Centers, Inc. Computation of Ratio of Earnings to Fixed Charges (in thousands)