SCHOOL SPECIALTY INC - FORM 10-Q - EX-12.1 - STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - February 22, 2011

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10-Q - FORM 10-Q - SCHOOL SPECIALTY INCd10q.htm
EX-32.1 - SECTION 906 CEO CERTIFICATION - SCHOOL SPECIALTY INCdex321.htm
EX-31.2 - SECTION 302 CFO CERTIFICATION - SCHOOL SPECIALTY INCdex312.htm
EX-31.1 - SECTION 302 CEO CERTIFICATION - SCHOOL SPECIALTY INCdex311.htm
EX-32.2 - SECTION 906 CFO CERTIFICATION - SCHOOL SPECIALTY INCdex322.htm

Exhibit 12.1

School Specialty, Inc.

Ratio of Earnings to Fixed Charges

(Dollars in Thousands)

 

     Nine Months
Ended		                                
     January 22,     Fiscal Year  
     2011     2010     2009     2008     2007     2006  

Earnings

             

(Loss)/income before income taxes -

             

Continuing operations

    $ (390,422 )    $ 44,231      $ 45,100      $ 62,855      $ 54,967      $ 27,014   

Discontinued operations

      —          —          —          (10,230 )      (34,438 )      (29,572 ) 
                                                

Subtotal

      (390,422 )      44,231        45,100        52,625        20,529        (2,558 ) 

Plus:

             

Fixed charges

      23,028        33,258        33,251        34,408        32,357        22,776   

Amortization of capitalized interest

      109        146        104        72        36        49   

Less interest capitalized during period

      (97 )      (180 )      (70 )      (272 )      (336 )      —     
                                                
     $(367,382)      $ 77,455      $ 78,385      $ 86,833      $ 52,586      $ 20,267   
                                                

Fixed Charges

             

Interest (expensed or capitalized)

    $ 19,454      $ 27,773      $ 28,174      $ 29,243      $ 27,875      $ 21,766   

Estimated portion of rent expense representative of interest

      1,896        2,872        3,117        3,206        3,117        3,511   

Amortization of deferred financing fees

      1,678        2,613        1,960        1,959        1,365        1,314   
                                                
   $ 23,028      $ 33,258      $ 33,251      $ 34,408      $ 32,357      $ 26,591   
                                                

Ratio of earnings to fixed charges

      (16.0 ) (1)      2.3        2.4        2.5        1.6        0.8  (2) 
                                                

 

(1)

Earnings for the nine months ended January 22, 2011 were inadequate to cover fixed charges. The coverage deficiency was $390,000.

(2)

Earnings for the fiscal year ended Aprill 29, 2006 were inadequate to cover fixed charges. The coverage deficiency was $6,324.

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