EX-12.1 22 d824088dex121.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,     Nine Months Ended  
    2013     2012     2011     2010     2009     September 27, 2014     September 28, 2013  

Earnings:

             

Earnings (loss) from continuing operations

  $ (79,520   $ (39,055   $ (84,507   $ 27,667      $ (76,752   $ (18,793   $ (62,089

Provision (benefit) for income taxes

    298        2,835        683        5,027        (17,966     (15,933     1,676   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Earnings (loss)

    (79,222     (36,220     (83,824     32,694        (94,718     (34,726     (60,413

Fixed charges:

             

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

    92,046        103,133        101,488        122,992        135,514        52,065        70,605   

Interest portion of rental expense

    10,699        8,666        8,199        7,380        7,830        8,827        8,024   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Fixed charges

    102,745        111,799        109,687        130,372        143,344        60,892        36,258   

Earnings available for fixed charges

  $ 23,523      $ 75,579      $ 25,863      $ 163,066      $ 48,626      $ 26,166      $ (24,156

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 nine months ended September 27, 2014 and September 28, 2013, the deficiency in the ratio of earnings to fixed charges to achieve a one to one ratio was $34.7 million and $60.4 million, respectively which resulted from the severe winter conditions, losses on modification or extinguishment of debt, and certain acquisition costs.