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Previous: PORTOLA PACKAGING INC, 10-K, 2000-11-22 |
Next: PORTOLA PACKAGING INC, 10-K, EX-21.01, 2000-11-22 |
<PAGE> 1
EXHIBIT 12.01
PORTOLA PACKAGING, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(IN THOUSANDS)
<TABLE>
<CAPTION>
YEAR ENDED AUGUST 31,
------------------------------------------------------------------------
2000 1999 1998 1997 1996
-------- -------- -------- -------- --------
<S> <C> <C> <C> <C> <C>
Fixed Charges:
Interest expense $ 14,486 $ 14,443 $ 13,795 $ 13,379 $ 13,084
Debt financing costs 428 546 484 559 492
Rent expense 817 740 564 638 635
-------- -------- -------- -------- --------
Total interest 15,731 15,729 14,843 14,576 14,211
Total fixed costs 15,731 15,729 14,843 14,576 14,211
Add: Capitalized interest 114 -- -- -- --
-------- -------- -------- -------- --------
Net fixed charges $ 15,845 $ 15,729 $ 14,843 $ 14,576 $ 14,211
======== ======== ======== ======== ========
Earnings:
Net loss $ (3,743) $ (616) $ (4,411) $ (7,411) $ (9,442)
Income tax benefit from
extraordinary item -- -- -- -- (845)
Income tax (benefit) provision (2,165) (352) (571) (632) 865
Net fixed charges 15,845 15,729 14,843 14,576 14,211
-------- -------- -------- -------- --------
Total earnings $ 9,937 $ 14,761 $ 9,861 $ 6,533 $ 4,789
======== ======== ======== ======== ========
Calculation of ratio of earnings to
fixed charges:
Total earnings $ 9,937 $ 14,761 $ 9,861 $ 6,533 $ 4,789
Total fixed charges $ 15,845 $ 15,729 $ 14,843 $ 14,576 $ 14,211
Ratio of earnings to fixed charges -- -- -- -- --
Deficiency of earnings to fixed
charges $ (5,908) $ (968) $ (4,982) $ (8,043) $ (9,422)
</TABLE>
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