EXHIBIT 12.1
SCHOOL SPECIALTY, INC.
RATIO OF EARNINGS TO FIXED CHARGES
(dollars in thousands)
| Fiscal Year (1) | |||||||||||||||
| 2005 |
2004 |
2003 |
2002 |
2001 | |||||||||||
| Earnings |
|||||||||||||||
| Income before income taxes |
$ | 70,324 | $ | 66,712 | $ | 66,037 | $ | 36,300 | $ | 21,006 | |||||
| Plus: |
|||||||||||||||
| Fixed charges |
16,301 | 21,100 | 20,840 | 20,052 | 18,941 | ||||||||||
| Amortization of capitalized interest |
48 | 48 | 48 | 28 | — | ||||||||||
| Less interest capitalized during period |
— | — | — | 240 | — | ||||||||||
| $ | 86,673 | $ | 87,860 | $ | 86,925 | $ | 56,140 | $ | 39,947 | ||||||
| Fixed Charges |
|||||||||||||||
| Interest (expensed or capitalized) |
$ | 11,623 | $ | 16,564 | $ | 16,042 | $ | 15,964 | $ | 16,393 | |||||
| Estimated portion of rent expense representative of interest |
3,291 | 2,797 | 2,675 | 2,519 | 1,958 | ||||||||||
| Amortization of deferred financing fees |
1,387 | 1,739 | 2,123 | 1,569 | 590 | ||||||||||
| $ | 16,301 | $ | 21,100 | $ | 20,840 | $ | 20,052 | $ | 18,941 | ||||||
| Ratio of earnings to fixed charges |
5.3 | 4.2 | 4.2 | 2.8 | 2.1 | ||||||||||
| (1) | All fiscal years presented were 52 weeks, except for fiscal 2005, which had 53 weeks. |