Exhibit 12.1

Callaway Golf Company

Computation of Ratio of Earnings to Fixed Charges and Preferred Stock Dividends

(dollars in thousands)

	Nine months ended Sept 30,					Year ended December 31,
	2010		2009			2009			2008		2007		2006		2005
EARNINGS:
Income (loss) from continuing operations before income taxes and non-controlling interest	$	10,243	$	(2,550	)	$	(29,128	)	$	100,341	$	88,264	$	34,987	$	14,537
Fixed charges and preferred stock dividends		16,263		10,033			17,304			8,817		8,523		8,369		5,624
Total earnings		26,506		7,483			(11,824	)		109,158		96,787		43,356		20,161
FIXED CHARGES AND PREFERRED STOCK DIVIDENDS:
Interest on debt and amortization of deferred financing costs		681		1,591			1,737			4,666		5,363		5,421		2,279
Estimated interest expense included in rental expense		3,373		3,462			4,522			4,151		3,160		2,948		3,345
Preference security dividends, pre-tax		12,209		4,980			11,045			—		—		—		—
Total fixed charges and preferred stock dividends	$	16,263	$	10,033		$	17,304		$	8,817	$	8,523	$	8,369	$	5,624
RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS		1.63		0.75			—	(1)		12.38		11.36		5.18		3.58

(1) Earnings for the year ended December 31, 2009 were insufficient to cover fixed charges and preferred stock dividends by $11.8 million.

(2) Preference security dividends is the amount of pre-tax earnings that is required to pay the dividends on outstanding preferred stock.