Exhibit 12.1
($ in thousands)
CHILDTIME LEARNING CENTERS, INC.
COMPUTATION OF EARNINGS TO FIXED CHARGES
| 40 Weeks Ended | Fiscal Year Ended | |||||||||||||||||||||||||||
| January 3, | January 4, | March 29, | March 30, | March 31, | April 2, | April 3, | ||||||||||||||||||||||
| 2003 | 2002 | 2002 | 2001 | 2000 | 1999 | 1998 | ||||||||||||||||||||||
Earnings: |
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Income (loss) from continuing
operations before taxes |
$ | (12,513 | ) | $ | (2,434 | ) | $ | (6,049 | ) | $ | (505 | ) | $ | 6,768 | $ | 8,033 | $ | 6,806 | ||||||||||
Add: |
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Fixed charges |
8,180 | 5,379 | 7,031 | 7,489 | 5,788 | 4,781 | 4,060 | |||||||||||||||||||||
Income (loss) as adjusted |
$ | (4,333 | ) | $ | 2,945 | $ | 982 | $ | 6,984 | $ | 12,556 | $ | 12,814 | $ | 10,866 | |||||||||||||
Fixed Charges: |
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Portion of rents representative of
the interest factor |
$ | 6,613 | $ | 5,034 | $ | 6,573 | $ | 6,523 | $ | 5,360 | $ | 4,469 | $ | 3,773 | ||||||||||||||
Interest expense |
1,567 | 345 | 458 | 966 | 428 | 312 | 287 | |||||||||||||||||||||
Fixed charges |
$ | 8,180 | $ | 5,379 | $ | 7,031 | $ | 7,489 | $ | 5,788 | $ | 4,781 | $ | 4,060 | ||||||||||||||
Ratio of earnings to fixed
charges (1) |
NM | NM | NM | NM | 2.17 | 2.68 | 2.68 | |||||||||||||||||||||
For the 40 weeks ending January 3, 2003 and January 4, 2002 and the fiscal years ending March 29, 2002 and March 30, 2001 earnings were inadequate to cover fixed charges. Deficiencies of ($12.5), ($2.4), ($0.5), and ($6.1), million existed for the 40 weeks ending January 3, 2003 and January 4, 2002 and the fiscal years ending March 29, 2002 and March 30, 2001, respectively.