Exhibit 12.1
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
AND PREFERRED DIVIDENDS
SYNALLOY CORPORATION
| For the Six Months Ended July 4, 2015 | For the Fiscal Years | |||||||||||||||||||||||
| 2014 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||
| (Dollars in thousands) | ||||||||||||||||||||||||
Income from continuing operations before income taxes | $ | 8,237 | $ | 18,005 | $ | 4,108 | $ | 5,877 | $ | 3,670 | $ | (969 | ) | |||||||||||
Fixed charges: | ||||||||||||||||||||||||
Interest expense (1) | 657 | 1,092 | 1,357 | 601 | 141 | 54 | ||||||||||||||||||
Capitalized interest | — | — | — | — | — | — | ||||||||||||||||||
Interest portion of rent expense (2) | 131 | 301 | 348 | 157 | 47 | 86 | ||||||||||||||||||
Amortization of debt issuance costs | 42 | 59 | 47 | 28 | 27 | 11 | ||||||||||||||||||
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Total fixed charges | $ | 830 | $ | 1,452 | $ | 1,752 | $ | 786 | $ | 215 | $ | 151 | ||||||||||||
Fixed charge adjustments | — | — | — | — | — | — | ||||||||||||||||||
Earnings | $ | 9,067 | $ | 19,457 | $ | 5,860 | $ | 6,663 | $ | 3,885 | $ | (818 | ) | |||||||||||
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Ratio of earnings to fixed charges | 10.92 | 13.40 | 3.34 | 8.48 | 18.07 | (5.42 | ) | |||||||||||||||||
| (1) | Interest expense excludes the mark-to-market adjustments for interest rate swaps relating to credit agreements entered into by the company. |
| (2) | Calculated as one-third of rent expense, which the company believes is a reasonable approximation of the interest factor. |
