Exhibit 12.1
Tornier N.V.
Computation of Ratio of Earnings to Fixed Charges
(in thousands)
Three months ended | Fiscal years ended | |||||||||||||||||||||||||||
March 31, 2013 | April 1, 2012 | December 30, 2012 | January 1, 2012 | January 2, 2011 | December 27, 2009 | December 28, 2008 | ||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||||||
Loss before income taxes | $ | (6,898 | ) | $ | (176 | ) | $ | (32,679 | ) | $ | (38,880 | ) | $ | (44,630 | ) | $ | (70,099 | ) | $ | (39,404 | ) | |||||||
Fixed charges to add to earnings: | ||||||||||||||||||||||||||||
Interest expense | 2,218 | 487 | 3,733 | 4,326 | 21,805 | 19,917 | 11,381 | |||||||||||||||||||||
Rent interest factor1 | 262 | 260 | 1,429 | 1,167 | 1,100 | 1,222 | 1,131 | |||||||||||||||||||||
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Total fixed charges | 2,480 | 747 | 5,162 | 5,493 | 22,905 | 21,139 | 12,512 | |||||||||||||||||||||
Earnings before income taxes and fixed charges | $ | (4,418 | ) | $ | 571 | $ | (27,517 | ) | $ | (33,387 | ) | $ | (21,725 | ) | $ | (48,960 | ) | $ | (26,892 | ) | ||||||||
Ratio of earnings to fixed charges2 | — | — | — | — | — | — | — |
1 | Approximately one-third of rental expense is deemed representative of the interest factor |
2 | For the three months ended March 31, 2013 and April 1, 2012, we had no earnings and are therefore unable to calculate the ratio of fixed charges to earnings. Our earnings for those periods were insufficient to cover fixed charges by $6.9 million and $0.2 million, respectively. For the years ended December 30, 2012, January 1, 2012, January 2, 2011, December 27, 2009 and December 28, 2008, we had no earnings and are therefore unable to calculate the ratio of fixed charges to earnings. Our earnings for those periods were insufficient to cover fixed charges by $32.7 million, $38.9 million, $44.6 million, $70.1 million, and $39.4 million, respectively. |