Exhibit 12.1
RATIO OF EARNINGS TO FIXED CHARGES
The following table shows the ratio of earnings to fixed charges of the Company for the periods indicated. For purposes of computing the ratio of earnings to fixed charges, earnings represents income (loss) from continuing operations before income taxes and fixed charges.
Year ended December 31, 2005 | Year ended December 30, 2006 | Year ended December 29, 2007 | Year ended January 3, 2009 | Year ended January 2, 2010 | Pro Forma Year ended January 2, 2010 | |||||||||||||||
| Earnings: | ||||||||||||||||||||
| Income (loss) from continuing operations before taxes | $ | (105,753 | ) | $ | (32,286 | ) | $ | 33,885 | $ | (315,588 | ) | $ | (55,590 | ) | $ | (74,130 | ) | |||
| Interest expense, including amortization of debt issuance costs | 73,821 | 60,980 | 91,467 | 107,321 | 106,063 | 124,603 | ||||||||||||||
Interest portion of rental expense (1) | 13,100 | 12,033 | 14,467 | 13,400 | 11,133 | 11,133 | ||||||||||||||
| Total Earnings: | (18,832 | ) | 40,727 | 139,819 | (194,867 | ) | 61,606 | 61,606 | ||||||||||||
| Fixed Charges: | ||||||||||||||||||||
| Interest expense, including amortization of debt issuance costs | 73,821 | 60,980 | 91,467 | 107,321 | 106,063 | 124,603 | ||||||||||||||
Interest portion of rental expense (1) | 13,100 | 12,033 | 14,467 | 13,400 | 11,133 | 11,133 | ||||||||||||||
| Total Fixed Charges: | $ | 86,921 | $ | 73,013 | $ | 105,934 | $ | 120,721 | $ | 117,196 | $ | 135,736 | ||||||||
| Ratio of Earnings to Fixed Charges | — | (2) | 0.6 | x(2) | 1.3 | x(2) | — | (2) | 0. 5 | x(2) | 0. 5 | x(3) | ||||||||
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| (1) | Calculated as one third of rent expense, which is a reasonable approximation of the interest factor. |
| (2) | For the years ended December 31, 2005, December 30, 2006, January 3, 2009 and January 2, 2010, earnings were inadequate to cover fixed charges by approximately $105.8 million, $32.3 million, $315.6 million and $55.6 million, respectively. |
| (3) | The pro forma ratio of earnings to fixed charges gives effect to the net incremental interest expense related to the repayment of outstanding borrowings under our credit facilities with the net proceeds from the offering of the notes. Pro forma, for the year ended January 2, 2010, earnings were inadequate to cover fixed charges by approximately $74.1 million. |