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 | |||||||||||||||
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Earnings available for fixed charges (a) | $ | (349.4 | ) | $ | (42.1 | ) | $ | 241.1 | $ | 198.7 | $ | 192.4 | ||||||||
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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 | |||||||||||||||
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Total fixed charges (b) | $ | 175.1 | $ | 154.8 | $ | 70.1 | $ | 62.2 | $ | 66.9 | ||||||||||
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Ratio of earnings to fixed charges (a/b) (2) | (2.00 | ) | (0.27 | ) | 3.44 | 3.19 | 2.88 | |||||||||||||
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(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. |