Exhibit 12.1
PLY GEM HOLDINGS, INC. AND SUBSIDIARIES
RATIO OF EARNINGS TO FIXED CHARGES
| Fiscal Year Ended December 31, | Three Months Ended | |||||||||||||||||||||||||||
| 2013 | 2012 | 2011 | 2010 | 2009 | March 29, 2014 | March 30, 2013 | ||||||||||||||||||||||
| (unaudited) | ||||||||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||||||
Earnings (loss) from continuing operations | $ | (79,520 | ) | $ | (39,055 | ) | $ | (84,507 | ) | $ | 27,667 | $ | (76,752 | ) | $ | (51,578 | ) | $ | (28,107 | ) | ||||||||
Provision (benefit) for income taxes | 298 | 2,835 | 683 | 5,027 | (17,966 | ) | (12,470 | ) | 3,849 | |||||||||||||||||||
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Earnings (loss) | (79,222 | ) | (36,220 | ) | (83,824 | ) | 32,694 | (94,718 | ) | (64,048 | ) | (24,258 | ) | |||||||||||||||
Fixed charges: | ||||||||||||||||||||||||||||
Interest expense including amortization of debt expense and discount (premium) | 92,046 | 103,133 | 101,488 | 122,992 | 135,514 | 18,518 | 23,668 | |||||||||||||||||||||
Interest portion of rental expense | 10,699 | 8,666 | 8,199 | 7,380 | 7,830 | 2,942 | 2,675 | |||||||||||||||||||||
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Fixed charges | 102,745 | 111,799 | 109,687 | 130,372 | 143,344 | 21,460 | 36,258 | |||||||||||||||||||||
Earnings available for fixed charges | $ | 23,523 | $ | 75,579 | $ | 25,863 | $ | 163,066 | $ | 48,626 | $ | (42,588 | ) | $ | 12,000 | |||||||||||||
Ratio of earnings to fixed charges (1) | — | — | — | 1.3x | — | — | — | |||||||||||||||||||||
| (1) | For the years ended December 31, 2013 2012, 2011, and 2009, the deficiency in the ratio of earnings to fixed charges to achieve a one to one ratio was $79.2 million, $36.2 million, $83.8 million, and $94.7 million, respectively, which resulted from the depressed residential U.S. housing market. For the three months ended March 29, 2014 and March 30, 2013, the deficiency in the ratio of earnings to fixed charges to achieve a one to one ratio was $64.0 million and $24.3 million, respectively, which resulted from the severe winter conditions. |