EX-12.1 5 pinnp20151227ex121.htm EXHIBIT 12.1 Exhibit


Exhibit 12.1


COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
 
 
 
 
 
 
 
 
 
 
 
Fiscal Year ended
 
Fiscal Year ended
 
Fiscal Year ended
 
Fiscal Year ended
 
Fiscal Year ended
 
December 27, 2015
 
December 28, 2014
 
December 29, 2013
 
December 30, 2012
 
December 25, 2011
 
 
 
 
 
 
 
 
 
 
Fixed charges as defined:
 
 
 
 
 
 
 
 
 
Interest expense
$
88,513

 
$
96,174

 
$
132,354

 
$
198,484

 
$
208,319

One-third of non-cancelable lease rent
5,101

 
4,699

 
4,317

 
4,620

 
3,771

 
 
 
 
 
 
 
 
 
 
Total fixed charges (A)
$
93,614

 
$
100,873

 
$
136,671

 
$
203,104

 
$
212,090

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Eanings as defined:
 
 
 
 
 
 
 
 
 
Earnings (loss) before income taxes
$
336,387

 
$
416,218

 
$
160,824

 
$
85,220

 
$
(24,811
)
Add fixed charges
93,614

 
100,873

 
136,671

 
203,104

 
212,090

 
 
 
 
 
 
 
 
 
 
Earnings and fixed charges (B)
$
430,001

 
$
517,091

 
$
297,495

 
$
288,324

 
$
187,279

 


 


 
 
 
 
 
 
Ratio of earnings to fixed charges: (B/A)
4.59x

 
5.13x

 
2.18x

 
1.42x

 
NM (1)


(1)
The Company's earnings for the fiscal year ended December 25, 2011 were insufficient to cover fixed charges by $24.8 million.