Exhibit 12.1
Bowater Incorporated
Statement of Computation of Unaudited Ratio of Earnings to Fixed Charges
(in millions, except ratio information)
| Three Months Ended March 31, | ||||||||
| 2005 | 2004 | |||||||
Earnings: |
||||||||
Loss before income taxes, minority interests and
cumulative effect of accounting change |
$ | (8.1 | ) | $ | (69.3 | ) | ||
Add: Fixed charges from below |
52.2 | 49.8 | ||||||
Less: Capitalized interest |
0.1 | — | ||||||
| $ | 44.0 | $ | (19.5 | ) | ||||
Fixed Charges: |
||||||||
Interest expense, net of interest capitalized |
50.2 | 48.2 | ||||||
Capitalized interest |
0.1 | — | ||||||
Estimate of interest within rental expense |
0.4 | 0.7 | ||||||
Amortized premium and discounts related to indebtedness |
1.5 | 0.9 | ||||||
| $ | 52.2 | $ | 49.8 | |||||
Deficiency of Earnings to Fixed Charges |
$ | 8.2 | $ | 69.3 | ||||