EX-12.1 29 a2221113zex-12_1.htm EX-12.1

Exhibit 12.1

 

CALCULATIONS OF EARNINGS AVAILABLE TO COVER FIXED CHARGES

 

 

 

Fiscal Year Ended

 

 

 

6/29/2014

 

12/29/2013

 

12/30/2012

 

12/25/2011

 

12/26/2010

 

12/27/2009

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

Pre-tax income from continuing operations

 

$

(64.7

)

$

(31.9

)

$

(114.5

)

$

(21.6

)

$

1.9

 

$

(37.3

)

Add: Fixed Charges adjusted for capitalized interest

 

33.2

 

70.0

 

72.5

 

55.0

 

24.6

 

13.0

 

Total

 

$

(31.5

)

$

38.1

 

$

(42.0

)

$

33.4

 

$

26.5

 

$

(24.3

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense on debt and amortization of deferred financing costs

 

$

30.1

 

$

63.9

 

$

66.4

 

$

51.2

 

$

22.4

 

$

10.6

 

Capitalized interest

 

—

 

—

 

—

 

—

 

—

 

—

 

Estimate of interest in rent expense (1)

 

3.1

 

6.1

 

6.1

 

3.8

 

2.2

 

2.4

 

Total

 

$

33.2

 

$

70.0

 

$

72.5

 

$

55.0

 

$

24.6

 

$

13.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

N/A

 

0.5

 

N/A

 

0.6

 

1.1

 

N/A

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deficiency of earnings to fixed charges

 

$

(64.7

)

$

(31.9

)

$

(114.5

)

$

(21.6

)

N/A

 

$

(37.3

)

 

(1) The interest component of rent was estimated to be one-third of net rental expense, which we believe is representative of the interest factor