Attached files
Exhibit 12.1
School Specialty, Inc.
Ratio of Earnings to Fixed Charges
(Dollars in Thousands)
| Six Months Ended October 23, |
Fiscal Year | |||||||||||||||||||||||
| 2010 | 2010 | 2009 | 2008 | 2007 | 2006 | |||||||||||||||||||
| Earnings | ||||||||||||||||||||||||
| (Loss)/income before income taxes - |
||||||||||||||||||||||||
| Continuing operations |
$ | (357,838 | ) | $ | 44,231 | $ | 45,100 | $ | 62,855 | $ | 54,967 | $ | 27,014 | |||||||||||
| Discontinued operations |
— | — | — | (10,230 | ) | (34,438 | ) | (29,572 | ) | |||||||||||||||
| Subtotal |
(357,838 | ) | 44,231 | 45,100 | 52,625 | 20,529 | (2,558 | ) | ||||||||||||||||
| Plus: |
||||||||||||||||||||||||
| Fixed charges |
16,085 | 33,258 | 33,251 | 34,408 | 32,357 | 22,776 | ||||||||||||||||||
| Amortization of capitalized interest |
73 | 146 | 104 | 72 | 36 | 49 | ||||||||||||||||||
| Less interest capitalized during period |
— | (180 | ) | (70 | ) | (272 | ) | (336 | ) | — | ||||||||||||||
| $ | (341,680 | ) | $ | 77,455 | $ | 78,385 | $ | 86,833 | $ | 52,586 | $ | 20,267 | ||||||||||||
| Fixed Charges | ||||||||||||||||||||||||
| Interest (expensed or capitalized) |
$ | 13,705 | $ | 27,773 | $ | 28,174 | $ | 29,243 | $ | 27,875 | $ | 21,766 | ||||||||||||
| Estimated portion of rent expense representative of interest |
1,282 | 2,872 | 3,117 | 3,206 | 3,117 | 3,511 | ||||||||||||||||||
| Amortization of deferred financing fees |
1,098 | 2,613 | 1,960 | 1,959 | 1,365 | 1,314 | ||||||||||||||||||
| $ | 16,085 | $ | 33,258 | $ | 33,251 | $ | 34,408 | $ | 32,357 | $ | 26,591 | |||||||||||||
| Ratio of earnings to fixed charges |
(21.2 | )(1) | 2.3 | 2.4 | 2.5 | 1.6 | 0.8 | (2) | ||||||||||||||||
| (1) | Earnings for the six months ended October 23, 2010 were inadequate to cover fixed charges. The coverage deficiency was $357,000. |
| (2) | Earnings for the fiscal year ended April 29, 2006 were inadequate to cover fixed charges. The coverage deficiency was $6,324. |
32