EX-12 2 a09-1619_1ex12.htm EX-12

Exhibit 12

 

NEENAH PAPER, INC. AND SUBSIDIARIES

STATEMENT REGARDING THE COMPUTATION OF

RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in millions, except ratio of earnings to fixed charges)

 

 

 

Year Ended December 31,

 

 

 

2008

 

2007

 

2006

 

2005

 

2004

 

Income (loss) from continuing operations before taxes

 

$

(44.3

)

$

28.5

 

$

28.8

 

$

43.4

 

$

79.2

 

Plus fixed charges

 

26.0

 

26.1

 

19.8

 

18.7

 

1.6

 

Numerator

 

$

(18.3

)

$

54.6

 

$

48.6

 

$

62.1

 

$

80.8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense (including amortization of debt issuance costs)

 

$

25.0

 

$

25.5

 

$

19.4

 

$

18.5

 

$

1.4

 

Interest portion of rent expense (a)

 

1.0

 

0.6

 

0.4

 

0.2

 

0.2

 

Fixed charges

 

$

26.0

 

$

26.1

 

$

19.8

 

$

18.7

 

$

1.6

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges (b)

 

—

 

2.1

x

2.5

x

3.3

x

50.5

x

 

(a)                    Represents one-third of rent expense which is deemed to be the financing portion of the lease agreements.

(b)                   The deficit of earnings to fixed charges for the year ended December 31, 2008 was $44.3 million.