Exhibit 12.1
Domtar Corporation
Computation of ratio of earnings to fixed charges
(In millions of dollars, unless otherwise noted)
| Year ended December 31, 2012 |
Year ended December 31, 2011 |
Year ended December 31, 2010 |
Year ended December 31, 2009 |
Year ended December 31, 2008 |
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| $ | $ | $ | $ | $ | ||||||||||||||||
| Available earnings: |
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| Earnings (loss) before income taxes and equity earnings |
236 | 505 | 448 | 490 | (570 | ) | ||||||||||||||
| Add fixed charges: |
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| Interest expense incurred |
75 | 76 | 144 | 115 | 128 | |||||||||||||||
| Amortization of debt expense and discount |
8 | 7 | 11 | 10 | 5 | |||||||||||||||
| Interest portion of rental |
11 | 11 | 11 | 12 | 13 | |||||||||||||||
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| Total earnings (loss) as defined |
330 | 599 | 614 | 627 | (424 | ) | ||||||||||||||
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| Fixed charges: |
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| Interest expense incurred |
75 | 76 | 144 | 115 | 128 | |||||||||||||||
| Amortization of debt expense and discount |
8 | 7 | 11 | 10 | 5 | |||||||||||||||
| Interest portion of rental expense (1) |
11 | 11 | 11 | 12 | 13 | |||||||||||||||
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| Total fixed charges |
94 | 94 | 166 | 137 | 146 | |||||||||||||||
| Ratio of earnings to fixed charges |
3.5 | 6.4 | 3.7 | 4.6 | ||||||||||||||||
| Deficiency in the coverage of earnings to fixed charges |
570 | |||||||||||||||||||
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| (1) | Interest portion of rental expense is calculated based on the proportion deemed representation of the interest component (i.e. 1/3 of rental expense). |