Exhibit 12.1
Computation of Ratio of Earnings to Fixed Charges and to Fixed Charges and Preference Dividends
(Unaudited) | ||||||||||||||||||||||||||||
Predecessor | Successor | |||||||||||||||||||||||||||
Year Ended December 25, | Period from December 26, 2009 to September 21, | Period from September 22, 2010 to December 31, | Year Ended December 31, | Three Months Ended March 28, 2014 | ||||||||||||||||||||||||
2009 | 2010 | 2010 | 2011 | 2012 | 2013 | |||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||||||
Income (loss) before income taxes | $ | (45,725 | ) | $ | 64,647 | $ | (1,693 | ) | $ | 13,425 | $ | 19,493 | $ | 42,335 | $ | 12,227 | ||||||||||||
Adjustments: | ||||||||||||||||||||||||||||
Less: Equity income from equity investees | (468 | ) | (773 | ) | (410 | ) | (865 | ) | (1,510 | ) | (2,345 | ) | (315 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||
Income (loss) before income taxes and equity income from equity investees | (46,193 | ) | 63,874 | (2,103 | ) | 12,560 | 17,983 | 39,990 | 11,912 | |||||||||||||||||||
Add: | ||||||||||||||||||||||||||||
Fixed charges | 30,208 | 25,351 | 4,864 | 19,878 | 21,645 | 18,416 | 4,287 | |||||||||||||||||||||
Distributed income of equity investees | 1,617 | 704 | — | 250 | 850 | 1,000 | — | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||
Total earnings | $ | (14,368 | ) | $ | 89,929 | $ | 2,761 | $ | 32,688 | $ | 40,478 | $ | 59,406 | $ | 16,199 | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||
Fixed charges: | ||||||||||||||||||||||||||||
Interest expensed, including amortization of deferred financing costs and accretion of debt discount, excluding loss on early extinguishment of debt | $ | 27,482 | $ | 23,489 | $ | 4,228 | $ | 17,011 | $ | 18,612 | $ | 15,316 | $ | 3,495 | ||||||||||||||
Estimated interest component of rent expense | 2,726 | 1,862 | 636 | 2,867 | 3,033 | 3,100 | 792 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||
Total fixed charges | $ | 30,208 | $ | 25,351 | $ | 4,864 | $ | 19,878 | $ | 21,645 | $ | 18,416 | $ | 4,287 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||
Ratio of earnings to fixed charges | — | (1) | 3.5 | — | (1) | 1.6 | 1.9 | 3.2 | 3.8 | |||||||||||||||||||
Pre-tax preferred dividend requirements | $ | — | $ | — | $ | 9,597 | $ | 5,384 | $ | 8,390 | $ | 4,227 | $ | — | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||
Total fixed charges plus preference dividends | $ | 30,208 | $ | 25,351 | $ | 14,461 | $ | 25,262 | $ | 30,035 | $ | 22,643 | $ | 4,287 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||
Ratio of earnings to fixed charges and preference dividends | — | (1) | 3.5 | — | (1) | 1.3 | 1.3 | 2.6 | 3.8 | |||||||||||||||||||
Amount (in thousands) of deficiency in earnings to fixed charges | $ | (44,576 | ) | — | $ | (2,103 | ) | — | — | — | — | |||||||||||||||||
Amount (in thousands) of deficiency in earnings to fixed charges and preference dividends | $ | (44,576 | ) | — | $ | (11,700 | ) | — | — | — | — |
(1) | The ratio of earnings to fixed charges and to fixed charges and preference dividends for this period was less than 1.0x. |