EX-12.1 4 pinnp20161225ex121.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 25, 2016
 
December 27, 2015
 
December 28, 2014
 
December 29, 2013
 
December 30, 2012
 
 
 
 
 
 
 
 
 
 
Fixed charges as defined:
 
 
 
 
 
 
 
 
 
Interest expense
$
139,243

 
$
88,513

 
$
96,174

 
$
132,354

 
$
198,484

One-third of non-cancelable lease rent
6,604

 
5,101

 
4,699

 
4,317

 
4,620

 
 
 
 
 
 
 
 
 
 
Total fixed charges (A)
$
145,847

 
$
93,614

 
$
100,873

 
$
136,671

 
$
203,104

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Eanings as defined:
 
 
 
 
 
 
 
 
 
Earnings before income taxes
$
340,547

 
$
336,387

 
$
416,218

 
$
160,824

 
$
85,220

Add fixed charges
145,847

 
93,614

 
100,873

 
136,671

 
203,104

 
 
 
 
 
 
 
 
 
 
Earnings and fixed charges (B)
$
486,394

 
$
430,001

 
$
517,091

 
$
297,495

 
$
288,324

 


 


 
 
 
 
 
 
Ratio of earnings to fixed charges: (B/A)
3.33x

 
4.59x

 
5.13x

 
2.18x

 
1.42x