EX-12.1 8 exhibit12-1.htm STATEMENT OF COMPUTATION OF RATIOS OF EARNINGS exhibit12-1.htm


Exhibit 12.1
 
 
PLY GEM HOLDINGS, INC. AND SUBSIDIARIES
RATIO OF EARNINGS TO FIXED CHARGES
 
 
                                           
   
Fiscal Year Ended December 31,
   
For the three
   
For the three
 
                                 
months ended
   
months ended
 
   
2010
   
2009
   
2008
   
2007
   
2006
   
April 2, 2011
   
April 3, 2010
 
                                 
(unaudited)
   
(unaudited)
 
Earnings:
                                         
Earnings (loss) from continuing operations
  $ 27,667     $ (76,752 )   $ (498,475 )   $ 4,982     $ 7,062     $ (70,892 )   $ 54,102  
Provision (benefit) for income taxes
    5,027       (17,966 )     (69,951 )     3,634       4,147       2,472       6,532  
Earnings (loss)
    32,694       (94,718 )     (568,426 )     8,616       11,209       (68,420 )     60,634  
                                                         
Fixed charges:
                                                       
Interest expense including amortization
                                                       
  of debt expense and discount (premium)
    122,992       135,514       110,418       99,698       76,680       26,460       34,007  
Interest portion of rental expense
    7,380       7,830       9,090       7,119       5,190       1,845       2,251  
Fixed charges
    130,372       143,344       119,508       106,817       81,870       28,305       36,258  
                                                         
Earnings available for fixed charges
  $ 163,066     $ 48,626     $ (448,918 )   $ 115,433     $ 93,079     $ (40,115 )   $ 96,892  
                                                         
Ratio of earnings to fixed charges (1)
    1.25 x     -       -       1.1 x     1.1 x     -       2.7 x

 
    (1)
For the years ended December 31, 2009 and 2008, the deficiency in the ratio of earnings to fixed charges to achieve a one to one 
   
 
ratio was $94.7 million and $568.4 million, respectively, which resulted from the depressed residential U.S. housing market.  For the
 
three months ended April 2, 2011, the deficiency in the ratio of earnings to fixed charges to achieve a one to one ratio was $68.4 million.