EX-12.1 8 ex12-1.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES 1 Exhibit 12.1 Ratio of Earnings to Fixed Charges Earnings:
FISCAL YEAR ENDED ------------------------------------------------------------------------ APRIL 27, APRIL 26, APRIL 25, APRIL 24, APRIL 29, 1996 1997 1998 1999 2000 ----------- ------------ ----------- ----------- ----------- (In millions, except ratios) EARNINGS: Income (loss) before income taxes and minority 18.5 (36.3) 44.5 85.8 66.9 interests Interest expense 18.4 13.8 8.6 8.9 36.9 Amort. of deferred financing costs 1.1 Rental expense interest component 6.6 6.4 4.1 3.7 3.4 --------- ----------- ---------- --------- ---------- Earnings 43.5 (16.1) 57.2 98.4 108.3 ========= =========== ========== ========= ========== FIXED CHARGES: Interest expense (18.4) (13.8) (8.6) (8.9) (36.9) Amort. of deferred financing costs (1.1) Rental expense interest component (6.6) (6.4) (4.1) (3.7) (3.4) --------- ----------- ---------- --------- ---------- Fixed charges (25.0) (20.2) (12.7) (12.6) (41.4) ========= =========== ========== ========= ========== Ratio of earnings to fixed charges 1.7x (a) 4.5x 7.8 2.6x
------------------------------------------------------ Footnotes The data above sets forth the ratio of earnings to fixed charges of Weight Watchers International, Inc. and Subsidiaries ("WWI") for each of the years in the five-year period ended April 29, 2000. The data for each of the years in the five year period ended April 29, 2000 are derived from the audited historical financial statements, included elsewhere in this document. Footnote (a) Earnings for the period ended April 26, 1997 were inadequate to cover fixed charges and resulted in a coverage deficiency of approximately $.8 million.