EX-12.1 9 d383245dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

TREEHOUSE FOODS, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in thousands)

 

     Year Ended December 31,  
     2016     2015     2014     2013      2012  

Earnings:

            

(Loss) income before income taxes

    $ (195,363 )    $ 171,264     $ 136,570     $ 124,910      $ 124,209  

Add (deduct):

            

Fixed charges

      154,794       70,067       62,206       66,913        69,246  

Capitalization of interest, net of amortization

      (1,557 )      (161 )      (48 )      389        (343 ) 

Other

      —       —       —       231        374  
  

 

 

    

 

 

    

 

 

    

 

 

     

 

 

  

Earnings available for fixed charges (a)

    $ (42,126 )    $ 241,170     $ 198,728     $ 192,443      $ 193,486  
  

 

 

    

 

 

    

 

 

    

 

 

     

 

 

  

Fixed charges:

            

Interest expense

    $ 119,155     $ 45,474     $ 42,036     $ 49,304      $ 51,609  

Capitalized interest and tax interest

      2,553       511       135       57        568  

One third of rental expense (1)

      33,086       24,082       20,035       17,552        17,069  
  

 

 

    

 

 

    

 

 

    

 

 

     

 

 

  

Total fixed charges (b)

    $ 154,794     $ 70,067     $ 62,206     $ 66,913      $ 69,246  
  

 

 

    

 

 

    

 

 

    

 

 

     

 

 

  

Ratio of earnings to fixed charges (a/b)(2)

      (0.27 )      3.44       3.19       2.88        2.79  
  

 

 

    

 

 

    

 

 

    

 

 

     

 

 

  

 

(1) Considered to be representative of interest factor in rental expense.
(2) The Company incurred a loss before income taxes for the year ended December 31, 2016. As a result, our earnings were less than our fixed charges by approximately $196.9 million.