Pregis Holding II CORP - FORM 10-K/A - EX-12.1

file	filename
10-K/A - FORM 10-K/A - Pregis Holding II CORP	c57135a1e10vkza.htm
EX-31.2 - EX-31.2 - Pregis Holding II CORP	c57135a1exv31w2.htm
EX-21.1 - EX-21.1 - Pregis Holding II CORP	c57135a1exv21w1.htm
EX-32.2 - EX-32.2 - Pregis Holding II CORP	c57135a1exv32w2.htm
EX-32.1 - EX-32.1 - Pregis Holding II CORP	c57135a1exv32w1.htm
EX-31.1 - EX-31.1 - Pregis Holding II CORP	c57135a1exv31w1.htm

Exhibit 12.1

Pregis Holding II Corporation
Ratio of Earnings to Fixed Charges
(in thousands)


	Successor															Predecessor
													October 13 to			January 1 to
	Year ended December 31,												December 31,			October 12,
	2009			2008			2007			2006			2005			2005
Earnings:
Pretax income (loss) from continuing operations	$	(21,009	)	$	(49,595	)	$	2,929		$	(3,558	)	$	(4,695	)	$	(6,953	)
Fixed charges		48,638			55,593			53,325			48,515			11,786			7,114
Less: Capitalized interest		—			(5	)		(237	)		(145	)		(26	)		(451	)


Earnings	$	27,629		$	5,993		$	56,017		$	44,812		$	7,065		$	(290	)


Fixed charges:
Interest expense	$	42,604		$	49,069		$	46,730		$	42,535		$	10,524		$	2,195
Capitalized interest		—			5			237			145			26			451
Interest component of rental expense		6,034			6,519			6,358			5,835			1,236			4,468


Total fixed charges	$	48,638		$	55,593		$	53,325		$	48,515		$	11,786		$	7,114


Ratio of earnings to fixed charges		0.57			0.11	*		1.05			0.92	*		0.60	*		(0.04)	*


*		Earnings were insufficient to cover fixed charges by $21,009, $49,600 and $3,703 for the years ended December 31, 2009, 2008 and 2006, respectively, and $4,721 for the period January 1, 2005 to October 12, 2005.

Pregis Holding II CORP - FORM 10-K/A - EX-12.1 - March 25, 2010