EX-12.1 7 d752976dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

PLY GEM HOLDINGS, INC. AND SUBSIDIARIES

RATIO OF EARNINGS TO FIXED CHARGES

 

    Fiscal Year Ended December 31,     Three Months Ended  
    2013     2012     2011     2010     2009     March 29, 2014     March 30, 2013  
                                  (unaudited)  

Earnings:

             

Earnings (loss) from continuing operations

  $ (79,520   $ (39,055   $ (84,507   $ 27,667      $ (76,752   $ (51,578   $ (28,107

Provision (benefit) for income taxes

    298        2,835        683        5,027        (17,966     (12,470     3,849   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Earnings (loss)

    (79,222     (36,220     (83,824     32,694        (94,718     (64,048     (24,258

Fixed charges:

             

Interest expense including amortization of debt expense and discount (premium)

    92,046        103,133        101,488        122,992        135,514        18,518        23,668   

Interest portion of rental expense

    10,699        8,666        8,199        7,380        7,830        2,942        2,675   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Fixed charges

    102,745        111,799        109,687        130,372        143,344        21,460        36,258   

Earnings available for fixed charges

  $ 23,523      $ 75,579      $ 25,863      $ 163,066      $ 48,626      $ (42,588   $ 12,000   

Ratio of earnings to fixed charges (1)

    —          —          —          1.3x        —          —          —     

 

(1) For the years ended December 31, 2013 2012, 2011, and 2009, the deficiency in the ratio of earnings to fixed charges to achieve a one to one ratio was $79.2 million, $36.2 million, $83.8 million, and $94.7 million, respectively, which resulted from the depressed residential U.S. housing market. For the three months ended March 29, 2014 and March 30, 2013, the deficiency in the ratio of earnings to fixed charges to achieve a one to one ratio was $64.0 million and $24.3 million, respectively, which resulted from the severe winter conditions.