EX-12.1 11 c77384_ex12-1.htm

Exhibit 12.1 

 

Fixed Charge Ratio

(dollars in thousands)

 

   2009   2010   2011   2012   2013   YTD Q2 FY 2013   YTD Q2 FY 2014 
EARNINGS:                                   
Pre-tax Income  $19,605   $13,812   $(14,349)(a)  $21,941   $14,333   $(635)  $(26,009)(b)
Fixed Charges   26,382    25,069    65,451    70,173    69,746    35,448    34,150 
Amortization of Capital Interest   758    303    309    456    91    46    46 
Total   46,745    39,184    51,411    92,570    84,170    34,859    8,187 
Less:                                   
Interest Capitalized   (282)   (1,087)   (941)   (1,895)   (983)   (625)   (296)
Earnings for Fixed Charge Calc.  $46,463   $38,097   $50,470   $90,675   $83,187   $34,234   $7,891 
                                    
FIXED CHARGES:                                   
Interest Expensed  $13,091   $12,322   $47,846   $52,007   $52,520   $26,167   $25,523 
Interest Capitalized   282    1,087    941    1,895    983    625    296 
Amortized premiums, discounts & capitalized expenses for debt   5,209    5,059    6,733    6,023    6,232    3,102    3,188 
Interest within Rental Expense (est.)   7,800    6,601    9,931    10,248    10,011    5,554    5,143 
Fixed Charges for Calc.  $26,382   $25,069   $65,451   $70,173   $69,746   $35,448   $34,150 
                                    
Ratio of Earnings to Fixed Charges   1.8    1.5    0.8    1.3    1.2    1.0    0.2 
                                    
Amount by which earnings are inadequate to cover fixed charges          $(14,981)          $(1,214)  $(26,259)

 

(a) includes $15,152 of costs related to the sale of inventory that was recorded at fair value in connection with acquisition accounting for ATT and $26,164 related to the loss on debt extinguishment.
(b) Includes $38,890 related to the loss on debt extinguishment.