SCHOOL SPECIALTY INC - FORM 10-K - EX-12.1 - STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES. - July 1, 2011

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10-K - FORM 10-K - SCHOOL SPECIALTY INCd10k.htm
EX-32.2 - SECTION 1350 CERTIFICATION BY CHIEF FINANCIAL OFFICER. - SCHOOL SPECIALTY INCdex322.htm
EX-32.1 - SECTION 1350 CERTIFICATION BY CHIEF EXECUTIVE OFFICER. - SCHOOL SPECIALTY INCdex321.htm
EX-21.1 - SUBSIDIARIES OF SCHOOL SPECIALTY, INC. - SCHOOL SPECIALTY INCdex211.htm
EX-99.1 - SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS. - SCHOOL SPECIALTY INCdex991.htm
EX-31.1 - RULE 13A-14(A)/15D-14(A) CERTIFICATION, BY CHIEF EXECUTIVE OFFICER. - SCHOOL SPECIALTY INCdex311.htm
EX-31.2 - RULE 13A-14(A)/15D-14(A) CERTIFICATION, BY CHIEF FINANCIAL OFFICER. - SCHOOL SPECIALTY INCdex312.htm
EX-23.1 - CONSENT OF DELOITTE & TOUCHE LLP. - SCHOOL SPECIALTY INCdex231.htm

EXHIBIT 12.1

SCHOOL SPECIALTY, INC.

RATIO OF EARNINGS TO FIXED CHARGES

(dollars in thousands)

 

    Fiscal Year  
    2011     2010     2009     2008     2007  
Earnings          

Income before income taxes—Continuing operations

   $ (428,367 )    $ 44,231      $ 45,100      $ 62,855      $ 54,967   

Discontinued operations

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

Subtotal

     (428,367 )      44,231        45,100        52,625        20,529   

Plus:

          

Fixed charges

     30,415        33,258        33,251        34,408        32,357   

Amortization of capitalized interest

     146        146        104        72        36   

Less interest capitalized during period

     (172 )      (180 )      (70 )      (272 )      (336 ) 
                                       
  $ (397,978 )    $ 77,455      $ 78,385      $ 86,833      $ 52,586   
                                       
Fixed Charges          

Interest (expensed or capitalized)

   $ 25,538      $ 27,773      $ 28,174      $ 29,243      $ 27,875   

Estimated portion of rent expense representative of interest

     2,513        2,872        3,117        3,206        3,117   

Amortization of deferred financing fees

     2,364        2,613        1,960        1,959        1,365   
                                       
  $ 30,415      $ 33,258      $ 33,251      $ 34,408      $ 32,357   
                                       

Ratio of earnings to fixed charges

     (13.1 )(1)      2.3        2.4        2.5        1.6   
                                       

 

(1) Earnings for Fiscal 2011 were inadequate to cover fixed charges. The coverage deficiency was $428,000.

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