EX-12.1 9 exhibit12-1.htm STATEMENT OF COMPUTATION OF RATIO OF EARNINGS exhibit12-1.htm


Exhibit 12.1

 
PLY GEM HOLDINGS, INC. AND SUBSIDIARIES
 
RATIO OF EARNINGS TO FIXED CHARGES
 
                                           
(Amounts in thousands)
                                         
   
Fiscal Year Ended December 31,
   
Nine months ended
 
                                 
September 29,
   
October 1,
 
   
2011
   
2010
   
2009
   
2008
   
2007
   
2012
   
2011
 
                                 
(Unaudited)
 
Earnings:
                                         
Earnings (loss) from continuing operations
  $ (84,507 )   $ 27,667     $ (76,752 )   $ (498,475 )   $ 4,982     $ (24,049 )   $ (69,287 )
Provision (benefit) for income taxes
    683       5,027       (17,966 )     (69,951 )     3,634       1,579       1,979  
Earnings (loss)
    (83,824 )     32,694       (94,718 )     (568,426 )     8,616       (22,470 )     (67,308 )
                                                         
Fixed charges:
                                                       
Interest expense including amortization
                                                       
     of debt expense and discount (premium)
    101,488       122,992       135,514       110,418       99,698       78,557       76,593  
Interest portion of rental expense
    8,192       7,380       7,830       9,090       7,119       7,680       6,144  
Fixed charges
    109,680       130,372       143,344       119,508       106,817       86,237       36,258  
                                                         
Earnings available for fixed charges
  $ 25,856     $ 163,066     $ 48,626     $ (448,918 )   $ 115,433     $ 63,767     $ (31,051 )
                                                         
Ratio of earnings to fixed charges (1)
    -       1.3       -       -       1.1       -       -  
                                                         
 
(1)  For the years ended December 31, 2011, 2009 and 2008, the deficiency in the ratio of earnings to fixed charges to achieve a one to one ratio was $83.8 million, $94.7 million, and $568.4 million, respectively, which resulted from the depressed residential U.S. housing market.
For the nine months ended September 29, 2012 and October 1, 2011, the deficiency in the ratio of earnings to fixed charges to achieve a one to one ratio was $22.5 million and $67.3 million, respectively, due to the depressed residential U.S. housing market.
 
 
 
 
 
 
Notes:
2008 interest expense excludes loss on extinguishment for debt
2011 interest factor estimated at 1/3 of operating lease rental expense-represents a reasonable approximation of the interest factor