Scholastic Corp – ‘S-4’ on 4/28/03 – EX-12.1

On:  Monday, 4/28/03, at 9:47pm ET   ·   As of:  4/29/03   ·   Accession #:  1047469-3-14992   ·   File #:  333-104799

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Registration of Securities Issued in a Business-Combination Transaction   —   Form S-4
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: S-4         Registration of Securities Issued in a                40    199K 
                          Business-Combination Transaction                       
 2: EX-1.1      Underwriting Agreement                                17     90K 
 3: EX-4.1      Instrument Defining the Rights of Security Holders    90    351K 
 4: EX-4.2      Instrument Defining the Rights of Security Holders    22     89K 
 5: EX-4.3      Instrument Defining the Rights of Security Holders     6     27K 
 6: EX-5.1      Opinion re: Legality                                   2     15K 
 7: EX-12.1     Statement re: Computation of Ratios                    2±    12K 
 8: EX-23.2     Consent of Experts or Counsel                          1      7K 
 9: EX-25.1     Statement re: Eligibility of Trustee                   3     14K 
10: EX-99.1     Miscellaneous Exhibit                                  2     14K 
11: EX-99.2     Miscellaneous Exhibit                                 16     84K 
12: EX-99.3     Miscellaneous Exhibit                                  5     21K 
13: EX-99.4     Miscellaneous Exhibit                                  2     14K 
14: EX-99.5     Miscellaneous Exhibit                                  2     11K 
15: EX-99.6     Miscellaneous Exhibit                                  2     11K 
16: EX-99.7     Miscellaneous Exhibit                                  9     34K 

EX-12.1   —   Statement re: Computation of Ratios

EX-12.1
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                                                                    EXHIBIT 12.1

SCHOLASTIC CORPORATION
 COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(AMOUNTS IN MILLIONS, EXCEPT RATIO DATA)

                                                        [Enlarge/Download Table]

                                                              Nine Months                                                   
                                                                 Ended                                                      
                                                           February 28, 2003                                                
                                                           -----------------                                                
                                                              (Unaudited)                                                   
                                                                                                                            
Earnings:                                                                                                                   
 Pretax earnings from continuing operations                $            44.8                                                
 Fixed charges                                                          36.4                                                
 Less: interest capitalized                                                -                                                
                                                           -----------------                                                

 Earnings                                                  $            81.2                                                
                                                           =================                                                

Fixed Charges:                                                                                                              
 Interest expensed                                         $            23.4                                                
 Interest capitalized                                                      -                                                
                                                           -----------------                                                
 Interest factor, included in consolidated rental expense               13.0                                                
                                                           -----------------                                                

 Fixed Charges                                             $            36.4                                                
                                                           =================                                                

Ratio of earnings to fixed charges                                      2.23                                                
                                                           =================                                                


                                                                             TWELVE MONTHS ENDED MAY 31,                    
                                                              2002          2001          2000          1999         1998   
                                                           ----------    ----------    ----------    ----------   ----------
                                                                                                                            
Earnings:                                                                                                                   
 Pretax earnings from continuing operations                $    153.3    $     57.1    $     80.4    $     58.9   $     38.1
 Fixed charges                                                   49.6          59.9          32.5          30.5         29.0
 Less: interest capitalized                                      (1.8)         (3.3)         (1.4)         (0.6)           -
                                                           ----------    ----------    ----------    ----------   ----------

 Earnings                                                  $    201.1    $    113.7    $    111.5    $     88.8   $     67.1
                                                           ==========    ==========    ==========    ==========   ==========

Fixed Charges:                                                                                                              
 Interest expensed                                         $     31.6    $     41.9    $     19.1    $     19.2   $     20.3
 Interest capitalized                                             1.8           3.3           1.4           0.6            -
 Interest factor, included in consolidated rental expense        16.2          14.7          12.0          10.7          8.7
                                                           ----------    ----------    ----------    ----------   ----------

 Fixed Charges                                             $     49.6    $     59.9    $     32.5    $     30.5   $     29.0
                                                           ==========    ==========    ==========    ==========   ==========

Ratio of earnings to fixed charges                               4.05          1.90          3.43          2.91         2.31
                                                           ==========    ==========    ==========    ==========   ==========

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘S-4’ Filing		Date		Other Filings
Filed as of:		4/29/03
Filed on:		4/28/03
		2/28/03		10-Q
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