EX-12.1 5 d114612dex121.htm EXHIBIT 12.1 Exhibit 12.1

Exhibit 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

    Nine
Months Ended
September 27,
2015		     Year Ended
December 31,
2014		     Year Ended
December 31,
2013		     Successor
Period 2012		         Predecessor
Period 2012		     Year Ended
December 31,
2011		     Year Ended
December 31,
2010		  
          (In millions)  

Earnings Available for Fixed Charges:

                

Income (loss) before tax

     145.3        54.2        92.9        (47.1 )        (36.7 )      71.3        75.3   

Add: fixed charges included in earnings:

                

Interest expense

     80.5        99.9        74.7        11.1          25.8        31.6        25.8   

Interest element of rentals (A)

     0.5        0.8        0.7        0.0          0.4        0.8        1.1   

Total

     81.0        100.7        75.4        11.1          26.2        32.4        26.9   

Total earnings available for fixed charges

     226.3        154.9        168.3        (36.0 )        (10.5 )      103.7        102.2   
 

Fixed Charges (B):

                

Fixed charges included in earnings

     81.0        100.7        75.4        11.1          26.2        32.4        26.9   

Capitalized interest

     —          —          —          —            —          —          —     

Total fixed charges

     81.0        100.7        75.4        11.1          26.2        32.4        26.9   
 

Ratio of Earnings to Fixed Charges

     2.79        1.54        2.23        (3.24 )        (0.40 )      3.20        3.80   

Amount of Deficiency

     Not applicable        Not applicable        Not applicable        47.1          36.7        Not applicable        Not applicable   

 

(A) Includes portion of rent expense considered to be interest.
(B) “Fixed charges” are defined as interest on borrowings (whether expensed or capitalized), the portion of rental expense applicable to interest, and amortization of debt issuance “Fixed charges” are defined as interest on borrowings (whether expensed or capitalized), the portion of rental expense applicable to interest, and amortization of debt issuance costs.

Interest in Rent Calculation

 

    Sept 27, 2015
YTD		     2014     2013     Successor
2012		     Predecessor
2012		     2011     2010     2009  

Rent expense

     9.8        12.4        11.5        1.6        5.3        7.2        7.9     

Long-term debt (including current portion and capital leases)

     1,897.0        1,960.2        1,259.7        1,075.7        383.1        331.4        251.6        112.5   

Average Debt balance

     1,928.6        1,610.0        1,167.7        1,075.7        357.3        291.5        182.1     

Average Annualized Interest Rate

     5.57 %      6.21 %      6.40 %      4.13 %      9.63 %      10.84 %      14.17 %   

Estimated interest in rent expense

     0.5        0.8        0.7        0.0        0.4        0.8        1.1