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- S-4 Registration of securities issued in business combination transactions
- 3.3 Amended and Restated Certificate of Incorporation of Cellu Tissue Holdings, Inc.
- 3.4 Amended and Restated Bylaws of Cellu Tissue Holdings, Inc.
- 3.5 Certificate of Incorporation of Cellu Tissue Corporation-natural Dam.
- 3.6 Bylaws of Cellu Tissue Corporation-natural Dam.
- 3.7 Certificate of Incorporation of Cellu Tissue Corporation-neenah.
- 3.8 Bylaws of Cellu Tissue Corporation-neenah.
- 3.9 Certificate of Formation of Cellu Tissue LLC.
- 3.10 Limited Liability Company Agreement of Cellu Tissue LLC.
- 3.11 Restated Certificate of Partnership of Coastal Paper Company.
- 3.12 Amended and Restated General Partnership Agreement of Coastal Paper Company.
- 3.13 Certificate of Incorporation of Menominee Acquisition Corporation.
- 3.14 Bylaws of Menominee Acquisition Corporation.
- 3.15 Articles of Incorporation of Van Paper Company.
- 3.16 Bylaws of Van Paper Company.
- 3.17 Articles of Incorporation of Van Timber Company.
- 3.18 Bylaws of Van Timber Company.
- 3.19 Certificate of Formation of Cellu Tissue-thomaston, LLC.
- 3.20 Limited Liability Company Agreement of Cellu Tissue-thomaston, LLC.
- 3.21 Certificate of Formation of Cellu Tissue-long Island, LLC.
- 3.22 Limited Liability Company Agreement of Cellu Tissue-long Island, LLC.
- 3.23 Certificate of Incorporation of Cellu Tissue Corporation-oklahoma City.
- 3.24 Bylaws of Cellu Tissue Corporation-oklahoma City.
- 4.4 Supplemental Indenture, Dated December 27, 2010.
- 4.5 Notation of Guarantee, Dated December 27, 2010.
- 4.6 Joinder Agreement, Dated December 27, 2010.
- 4.9 Supplemental Indenture, Dated December 27, 2010
- 5.1 Opinion of Pillsbury Winthrop Shaw Pittman LLP
- 5.2 Opinion of Baker Donelson Bearman, Caldwell & Berkowitz, P.C.
- 8.1 Opinion of Pillsbury Winthrop Shaw Pittman LLP
- 12.1 Computation of Ratio of Earnings to Fixed Charges
- 21.1 Clearwater Paper Corporation Subsidiaries
- 23.1 Consent of KPMG LLP, Independent Registered Public Accounting Firm
- 23.2 Consent of Ernst & Young, Independent Registered Public Accounting Firm
- 23.3 Consent of Pricewaterhousecoopers LLP, Independent Registered Public Accounting
- 25.1 Statement of Eligibility of Trustee
- 99.1 Form of Letter of Transmittal
- 99.2 Form of Notice of Guaranteed Delivery
- 99.3 Form of Letter to Brokers
- 99.4 Form of Letter to Clients
Exhibit 12.1
CLEARWATER PAPER CORPORATION
Computation of Ratio of Earnings to Fixed Charges
(In thousands)
Years Ended December 31, | ||||||||||||||||||||
2010 | 2009 | 2008 | 2007 | 2006 | ||||||||||||||||
Earnings before income taxes | $ | 76,196 | $ | 275,685 | $ | 15,337 | $ | 39,407 | $ | 33,263 | ||||||||||
Add: Fixed charges | 27,382 | 20,248 | 17,648 | 17,489 | 18,156 | |||||||||||||||
Subtract: Capitalized interest | (480 | ) | — | — | — | — | ||||||||||||||
Earnings available for fixed charges | $ | 103,098 | $ | 295,933 | $ | 32,985 | $ | 56,896 | $ | 51,419 | ||||||||||
Fixed charges: | ||||||||||||||||||||
Interest expense | $ | 22,571 | $ | 15,505 | $ | 13,147 | $ | 13,000 | $ | 13,000 | ||||||||||
Capitalized interest | 480 | — | — | — | — | |||||||||||||||
Rental expense factor 1 | 4,331 | 4,743 | 4,501 | 4,489 | 5,156 | |||||||||||||||
Total fixed charges | $ | 27,382 | $ | 20,248 | $ | 17,648 | $ | 17,489 | $ | 18,156 | ||||||||||
Ratio of earnings to fixed charges | 3.8 | 14.6 | 1.9 | 3.3 | 2.8 | |||||||||||||||
1 | “Rental expense factor” is the portion of rental expense estimated to be representative of the interest factor within rental expense. |
The ratio of earnings to fixed charges is computed by dividing income before taxes plus fixed charges by fixed charges. Fixed charges consist of interest expense and the estimated portion of rental expense deemed by us to be representative of the interest factor of rental payments under operating leases.