Attached files
| file | filename |
|---|---|
| 10-K - FORM 10-K - Horizon Lines, Inc. | g26402ke10vk.htm |
| EX-21 - EX-21 - Horizon Lines, Inc. | g26402kexv21.htm |
| EX-31.1 - EX-31.1 - Horizon Lines, Inc. | g26402kexv31w1.htm |
| EX-31.2 - EX-31.2 - Horizon Lines, Inc. | g26402kexv31w2.htm |
| EX-23.1 - EX-23.1 - Horizon Lines, Inc. | g26402kexv23w1.htm |
| EX-32.1 - EX-32.1 - Horizon Lines, Inc. | g26402kexv32w1.htm |
| EX-32.2 - EX-32.2 - Horizon Lines, Inc. | g26402kexv32w2.htm |
| EX-10.51 - EX-10.51 - Horizon Lines, Inc. | g26402kexv10w51.htm |
| EX-10.50 - EX-10.50 - Horizon Lines, Inc. | g26402kexv10w50.htm |
Exhibit 12
| December 26. | December 20. | December 21. | December 23. | December 24. | ||||||||||||||||
| 2010 | 2009 | 2008 | 2007 | 2006 | ||||||||||||||||
| ($ in thousands) | ||||||||||||||||||||
Earnings: |
||||||||||||||||||||
(Loss) income from continuing operations before income taxes |
$ | (46,299 | ) | $ | (15,818 | ) | $ | 6,200 | $ | 10,851 | $ | 47,025 | ||||||||
Fixed charges |
76,127 | 72,837 | 75,467 | 75,381 | 71,107 | |||||||||||||||
Earnings from continuing operations, adjusted |
$ | 29,828 | $ | 57,019 | $ | 81,667 | $ | 86,232 | $ | 118,132 | ||||||||||
Ratio of earnings to fixed charges |
— | — | 1.08x | 1.14x | 1.66x | |||||||||||||||
Fixed Charges: |
||||||||||||||||||||
Interest expense |
$ | 40,117 | $ | 38,036 | $ | 39,923 | $ | 43,567 | $ | 47,491 | ||||||||||
Interest portion of rent expense |
35,414 | 34,375 | 35,267 | 31,814 | 23,616 | |||||||||||||||
Capitalized interest |
596 | 426 | 277 | — | — | |||||||||||||||
Total fixed charges |
$ | 76,127 | $ | 72,837 | $ | 75,467 | $ | 75,381 | $ | 71,107 | ||||||||||
For the purposes of computing the ratio of earnings to fixed charges,
earnings are defined as income before income taxes plus fixed charges. Fixed
charges consist of interest expense (including capitalized interest) and the
portion of rental expense that is representative of the interest factor. For
the years ending December 26, 2010 and December 20, 2009, earnings were
insufficient to cover fixed charges by $46.3 million and $15.8 million,
respectively.