EX-12.1 2 a2138958zex-12_1.htm EXHIBIT 12.1

Exhibit 12.1

Sealy Corporation/Sealy Mattress Corporation
Computation of Ratio of Earnings to Fixed Charges

 
  Fiscal Year Ended
  Six Months Ended
 
 
  November 28,
1999

  November 26,
2000

  December 2,
2001

  December 1,
2002

  November 30,
2003

  June 1,
2003

  May 30,
2004

 
 
  (Dollars in thousands)

 
Pre-tax income from operations   $ 32,382   $ 57,372   $ (8,464 ) $ 24,151   $ 36,465   $ 13,994   $ (95,902 )

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
Interest expense and amortization of debt discount and financing costs     65,991     69,009     78,047     72,571     68,525     33,952     33,858  
Rentals—33%(b)     3,476     3,305     4,407     4,551     4,543     2,272     2,520  
   
 
 
 
 
 
 
 
Total Fixed charges     69,467     72,314     82,454     77,122     73,068     36,224     36,378  
   
 
 
 
 
 
 
 

Earnings before income taxes and fixed charges

 

 

101,849

 

 

129,686

 

 

73,990

 

 

101,273

 

 

109,533

 

 

50,218

 

 

(59,524

)
   
 
 
 
 
 
 
 
Ratio of earnings to fixed charges(a)     1.5 x   1.8 x       1.3 x   1.5 x   1.4 x    
   
 
 
 
 
 
 
 

(a)
For the year ended December 2, 2001 and the six months ended May 30, 2004, earnings were insufficient to cover fixed charges by $8.5 million and $95.9 million, respectively.

(b)
The percent of rent included in the calculation is a reasonable approximation of the interest factor in the Company's operating leases.