Exhibit 12.1
Bowater Incorporated
Statement of Computation of Unaudited Ratio of Earnings to Fixed Charges
(in millions, except ratio information)
| Nine Months Ended September 30, |
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| 2004 |
2003 |
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Earnings: |
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Income (loss) before income taxes, minority interests
and cumulative effect of accounting change |
$ | (99.8 | ) | $ | (211.5 | ) | ||
Add: Fixed charges from below |
150.5 | 140.0 | ||||||
Less: Capitalized interest |
— | 7.5 | ||||||
| $ | 50.7 | $ | (79.0 | ) | ||||
Fixed Charges: |
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Interest expense, net of interest capitalized |
146.5 | 127.9 | ||||||
Capitalized interest |
— | 7.5 | ||||||
Estimate of interest within rental expense |
2.1 | 2.5 | ||||||
Amortized premium and discounts related to indebtedness |
1.9 | 2.1 | ||||||
| $ | 150.5 | $ | 140.0 | |||||
Deficiency of Earnings to Fixed Charges |
$ | 99.8 | $ | 219.0 | ||||