EX-12.1 2 dex121.htm STATEMENT OF RATIO OF EARNINGS TO FIXED CHARGES Statement of Ratio of Earnings to fixed charges

EXHIBIT 12.1

Computation of ratio of earnings to fixed charges

The calculation of the ratio of earnings to fixed charges is included below:

Dollarama Group Holdings L.P.

 

(dollars in thousands)   Year
Ended
February 3,
2008
  Year
Ended
February 4,
2007

Earnings:

   

Earnings before income taxes

  $ 89,171   $ 72,200

Plus:

   

Fixed charges

    91,285     71,257

Amortization of capitalized interest

    —       —  

Less: interest capitalized during period

    —       —  
           
  $ 180,456   $ 143,457

Fixed charges:

   

Interest (expense or capitalized)

  $ 65,713   $ 50,498

Estimates portion of rent expense representative of interest

    19,232     16,405

Amortization of financing costs

    6,340     4,354
           
  $ 91,285   $ 71,257
    2.0 x     2.0 x

Dollarama Group L.P.

 

(dollars in thousands)   Year
Ended
February 3,
2008
  Year
Ended
February 4,
2007

Earnings:

   

Earnings before income taxes

  $ 77,058   $ 82,036

Plus:

   

Fixed charges

    66,806     67,673

Amortization of capitalized interest

    —       —  

Less: interest capitalized during period

    —       —  
           
  $ 143,864   $ 149,709

Fixed charges:

   

Interest (expense or capitalized)

  $ 43,299   $ 47,192

Estimates portion of rent expense representative of interest

    19,232     16,405

Amortization of financing costs

    4,275     4,076
           
  $ 66,806   $ 67,673

Ratio of earnings to fixed charges(1)

    2.2 x     2.2 x

 

(1) For purposes of calculating the ratio of earnings to fixed charges, earnings represents the sum of earnings before income taxes, fixed charges and amortization of capitalized interest, less capitalized interest. Fixed charges consist of interest expense, capitalized interest, amortization of financing costs, write-off of financing costs and the portion of operating rental expense which management believes is representative of the interest component of rent expense.