EX-12.1
Published on October 30, 2013
Exhibit 12.1
Computation of Ratio of Earnings to Fixed Charges
Six Months Ended |
Years Ended December 31, | |||||||||||||||||||||||
7/1/2013 | 2012 | 2011 | 2010 | 2009 | 2008 | |||||||||||||||||||
(in thousands, except for ratios) | ||||||||||||||||||||||||
Fixed Charges: |
||||||||||||||||||||||||
Interest expense |
$ | 12,201 | $ | 25,784 | $ | 26,504 | $ | 22,255 | $ | 11,198 | $ | 11,065 | ||||||||||||
Capitalized interest |
1,092 | 1,774 | 1,828 | 1,522 | 287 | 275 | ||||||||||||||||||
Estimated interest within rental expense |
544 | 1,034 | 994 | 1,043 | 1,501 | 1,533 | ||||||||||||||||||
Total fixed charges |
$ | 13,837 | $ | 28,592 | $ | 29,326 | $ | 24,820 | $ | 12,986 | $ | 12,873 | ||||||||||||
Earnings: |
||||||||||||||||||||||||
Net income (loss) |
$ | 20,305 | $ | (181,100 | ) | $ | 47,227 | $ | 79,899 | $ | 4,857 | $ | (36,911 | ) | ||||||||||
Income taxes provision (benefit) |
10,129 | 12,728 | 26,005 | 28,738 | 3,266 | (24,460 | ) | |||||||||||||||||
Fixed charges |
13,837 | 28,592 | 29,326 | 24,820 | 12,986 | 12,873 | ||||||||||||||||||
Capitalized interest |
(1,092 | ) | (1,774 | ) | (1,828 | ) | (1,522 | ) | (287 | ) | (275 | ) | ||||||||||||
Amortization of capitalized interest |
152 | 278 | 235 | 181 | 137 | 64 | ||||||||||||||||||
Total earnings for computation of ratio |
$ | 43,331 | $ | (141,276 | ) | $ | 100,965 | $ | 132,116 | $ | 20,959 | $ | (48,709 | ) | ||||||||||
Ratio of earnings to fixed charges |
3.1x | n/a | (1) | 3.4x | 5.3x | 1.6x | n/a | (1) |
(1) | Earnings were not sufficient to cover fixed charges for periods indicated. Additional earnings of $169.9 million and $61.6 million in the years ended December 31, 2012 and 2008, respectively, would have been required to achieve a ratio of 1:1. |