Exhibit 12.1
Ratio of Earnings to Fixed Charges
(in millions, except for ratios)
Fiscal Year Ended | Six Months Ended | |||||||||||||||||||||||||||
| January 3, 2010 | January 2, 2011 | January 1, 2012 | December 31, 2012 | December 31, 2013 | June 30, 2013 | June 30, 2014 | ||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||||||
Pre-tax income (excluding equity income of affiliates) | $ | 92.7 | $ | 84.5 | $ | 111.3 | $ | 100.4 | $ | 85.1 | $ | 49.0 | $ | 69.8 | ||||||||||||||
Dividends received from unconsolidated joint ventures | 2.2 | 3.9 | 9.9 | — | 3.2 | — | 0.5 | |||||||||||||||||||||
Interest Expense (including the interest element of rental expense and write-off of deferred financing fees) | 42.9 | 58.2 | 88.9 | 104.1 | 116.9 | 52.5 | 47.9 | |||||||||||||||||||||
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Total Earnings + Fixed Charges | $ | 137.8 | $ | 146.6 | $ | 210.1 | $ | 204.5 | $ | 205.2 | $ | 101.5 | $ | 118.2 | ||||||||||||||
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Fixed Charges: | ||||||||||||||||||||||||||||
Interest Expense (including the interest element of rental expense and write-off of deferred financing fees) | $ | 42.9 | $ | 58.2 | $ | 88.9 | $ | 104.1 | $ | 116.9 | $ | 52.5 | $ | 47.9 | ||||||||||||||
Capitalized interest | 4.9 | 4.1 | 3.1 | 1.2 | — | — | 0.2 | |||||||||||||||||||||
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Total Fixed Charges (Including capitalized interest) | $ | 47.8 | $ | 62.3 | $ | 92.0 | $ | 105.3 | $ | 116.9 | $ | 52.5 | $ | 48.1 | ||||||||||||||
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Ratio of Earnings to Fixed Charges | 2.9x | 2.4x | 2.3x | 1.9x | 1.8x | 1.9x | 2.5x | |||||||||||||||||||||
