EX-12.1 2 ths-ex121_70.htm EX-12.1 ths-ex121_70.htm

Exhibit 12.1

TREEHOUSE FOODS, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in millions)

 

 

Year Ended December 31,

 

 

 

2017

 

 

2016

 

 

2015

 

 

2014

 

 

2013

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) before income taxes

 

$

(524.6

)

 

$

(195.4

)

 

$

171.2

 

 

$

136.6

 

 

$

124.9

 

Add (deduct):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges

 

 

175.1

 

 

 

154.8

 

 

 

70.1

 

 

 

62.2

 

 

 

66.9

 

Capitalization of interest, net of amortization

 

 

0.1

 

 

 

(1.5

)

 

 

(0.2

)

 

 

(0.1

)

 

 

0.4

 

Other

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

0.2

 

Earnings available for fixed charges (a)

 

$

(349.4

)

 

$

(42.1

)

 

$

241.1

 

 

$

198.7

 

 

$

192.4

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

126.8

 

 

$

119.2

 

 

$

45.5

 

 

$

42.0

 

 

$

49.3

 

Capitalized interest and tax interest

 

 

2.9

 

 

 

2.5

 

 

 

0.5

 

 

 

0.2

 

 

 

0.1

 

One third of rental expense (1)

 

 

45.4

 

 

 

33.1

 

 

 

24.1

 

 

 

20.0

 

 

 

17.5

 

Total fixed charges (b)

 

$

175.1

 

 

$

154.8

 

 

$

70.1

 

 

$

62.2

 

 

$

66.9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

(2.00

)

 

 

(0.27

)

 

 

3.44

 

 

 

3.19

 

 

 

2.88

 

 

(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, 2017 and 2016.  As a result, our earnings were insufficient to cover our fixed charges by approximately $524.5 million and $196.9 million, respectively.