EX-12.1 5 dex121.txt STATEMENT OF COMPUTATION Exhibit 12.1 Potlatch Corporation Computation of Ratio of Earnings to Fixed Charges
6/30/01 6/30/00 2000 1999 1998 1997 1996 ------- ------- ---- ---- ---- ---- ---- Earnings (loss) before taxes on income (67,536) (11,488) (54,449) 66,044 58,175 54,635 86,326 Add: Interest expense 35,368 28,678 59,438 45,442 49,744 46,124 43,869 Rental expense factor (1) 2,107 2,041 4,266 4,017 3,399 3,179 2,561 Discount and loan expense amortization 2,113 254 508 460 300 412 374 -------------------------------------------------------------------------- Earnings available for fixed charges (27,948) 19,485 9,763 115,963 111,618 104,350 133,130 ========================================================================== Fixed charges: Interest expense 35,368 28,678 59,438 45,442 49,744 46,124 43,869 Capitalized interest 1,032 1,467 3,964 10,320 5,070 6,068 10,280 Rental expense factor (1) 2,107 2,041 4,266 4,017 3,399 3,179 2,561 Discount and loan expense amortization 2,113 254 508 460 300 412 374 -------------------------------------------------------------------------- Total fixed charges 40,620 32,440 68,176 60,239 58,513 55,783 57,084 ========================================================================== Ratio of earnings to fixed charges (0.7) 0.6 0.1 1.9 1.9 1.9 2.3