EX-12.1 12 sum-20171230ex12115786a.htm EX-12.1 sum_Ex12_1

Exhibit 12.1

SUMMIT MATERIALS, INC. AND SUBSIDIARIES

SUMMIT MATERIALS, LLC AND SUBSIDIARIES

Computation of Ratio of Earnings to Fixed Charges

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended

 

December 30,

  

December 31,

  

January 2,

  

December 27,

  

December 28,

($ in thousands)

2017

     

2016

     

2016

     

2014

     

2013

Income (loss) from continuing operations before income taxes (1)

$

113,697

 

$

56,805

 

$

(18,322)

 

$

(13,336)

 

$

(105,798)

Add (deduct):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Distributions from equity investments

 

1,000

 

 

3,500

 

 

1,800

 

 

757

 

 

120

Income from equity method investees

 

(2,204)

 

 

(3,266)

 

 

(2,609)

 

 

(1,408)

 

 

(1,161)

Capitalized interest

 

 —

 

 

 —

 

 

 —

 

 

 -

 

 

(640)

Fixed Charges

 

114,892

 

 

102,684

 

 

87,805

 

 

88,570

 

 

58,419

Earnings, as defined

$

227,385

 

$

159,723

 

$

68,674

 

$

74,583

 

$

(49,060)

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest on indebtedness and amortization of deferred financing costs

$

107,655

 

$

96,483

 

$

83,757

 

$

86,742

 

$

56,443

Capitalized interest

 

 —

 

 

 —

 

 

 —

 

 

 -

 

 

640

Portion of rental expense under operating leases representative of the interest factor

 

7,237

 

 

6,201

 

 

4,048

 

 

1,828

 

 

1,336

Total fixed charges

$

114,892

 

$

102,684

 

$

87,805

 

$

88,570

 

$

58,419

Ratio of earnings to fixed charges (2)(3)

 

2.0 x

 

 

1.6 x

 

 

0.8 x

 

 

0.8 x

 

 

N/A

(1)     Represents earnings from continuing operations before adjustments for noncontrolling interests in consolidated subsidiaries.

(2)     The ratio of earnings to fixed charges is determined by dividing earnings, as adjusted, by fixed charges. Fixed charges consist of interest on all indebtedness plus that portion of operating lease rentals representative of the interest factor (deemed to be 33% of operating lease rentals).

(3)     Earnings were insufficient to cover fixed charges by $19.1 million, $14.0 million and $107.5 million for the years ended 2015, 2014 and 2013, respectively.