Exhibit 12
INTERFACE, INC.
COMPUTATION OF
RATIO OF EARNINGS TO FIXED CHARGES
For the Year Ended | For the Three Months Ended | ||||||||||||||||||||||||||||
January 2, 2005 | January 1, 2006 | December 31, 2006 | December 30, 2007 | December 28, 2008 | March 30, 2008 | April 5, 2009 | |||||||||||||||||||||||
(in thousands, except for the ratio amounts) | |||||||||||||||||||||||||||||
EARNINGS: | |||||||||||||||||||||||||||||
Income (loss) from continuing operations before taxes | $ | 10,261 | $ | 32,023 | $ | 56,847 | $ | 94,554 | $ | 8,527 | $ | 22,955 | $ | (3,849 | ) | ||||||||||||||
Fixed charges | 60,300 | 58,981 | 54,475 | 44,915 | 43,436 | 10,354 | 9,930 | ||||||||||||||||||||||
Amortization of capitalized interest | 149 | 202 | 319 | 453 | 618 | 155 | 156 | ||||||||||||||||||||||
Capitalized interest | (600 | ) | (900 | ) | (1,127 | ) | (896 | ) | (960 | ) | (210 | ) | (115 | ) | |||||||||||||||
$ | 70,110 | $ | 90,306 | $ | 110,514 | $ | 139,026 | $ | 51,621 | $ | 33,254 | $ | 6,122 | ||||||||||||||||
FIXED CHARGES: | |||||||||||||||||||||||||||||
Amortization of deferred debt costs | $ | 3,644 | $ | 2,307 | $ | 1,857 | $ | 1,201 | $ | 1,404 | $ | 351 | $ | 335 | |||||||||||||||
Interest expense | 46,023 | 45,541 | 42,204 | 34,110 | 31,480 | 7,828 | 7,673 | ||||||||||||||||||||||
Capitalized interest | 600 | 900 | 1,127 | 896 | 960 | 210 | 115 | ||||||||||||||||||||||
Interest element of rent expense | 10,033 | 10,233 | 9,287 | 8,708 | 9,592 | 1,965 | 1,807 | ||||||||||||||||||||||
$ | 60,300 | $ | 58,981 | $ | 54,475 | $ | 44,915 | $ | 43,436 | $ | 10,354 | $ | 9,930 | ||||||||||||||||
Ratio of earnings to fixed charges | 1.2 | x | 1.5 | x | 2.0 | x | 3.1 | x | 1.2 | x | 3.2 | x | 0.6 | x | (1) |
(1) For the quarter ended April 5, 2009, earnings were insufficient to cover fixed charges by $3.8 million. |