EX-12.1 2 pinnp20171231ex121.htm EXHIBIT 12.1 Exhibit


Exhibit 12.1


COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
 
 
 
 
 
 
 
 
 
 
 
Fiscal Year ended
 
Fiscal Year ended
 
Fiscal Year ended
 
Fiscal Year ended
 
Fiscal Year ended
 
December 31, 2017
 
December 25, 2016
 
December 27, 2015
 
December 28, 2014
 
December 29, 2013
 
 
 
 
 
 
 
 
 
 
Fixed charges as defined:
 
 
 
 
 
 
 
 
 
Interest expense
$
169,587

 
$
139,243

 
$
88,513

 
$
96,174

 
$
132,354

One-third of non-cancelable lease rent
8,235

 
6,604

 
5,101

 
4,699

 
4,317

 
 
 
 
 
 
 
 
 
 
Total fixed charges (A)
$
177,822

 
$
145,847

 
$
93,614

 
$
100,873

 
$
136,671

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings as defined:
 
 
 
 
 
 
 
 
 
Earnings before income taxes
$
279,222

 
$
340,547

 
$
336,387

 
$
416,218

 
$
160,824

Add fixed charges
177,822

 
145,847

 
93,614

 
100,873

 
136,671

 
 
 
 
 
 
 
 
 
 
Earnings and fixed charges (B)
$
457,044

 
$
486,394

 
$
430,001

 
$
517,091

 
$
297,495

 


 


 
 
 
 
 
 
Ratio of earnings to fixed charges: (B/A)
2.57x

 
3.33x

 
4.59x

 
5.13x

 
2.18x