Attached files
| file | filename |
|---|---|
| EX-32.1 - EXHIBIT 32.1 - INTERLINE BRANDS, INC./DE | ibi-fy14q310qxex321.htm |
| EX-31.1 - EXHIBIT 31.1 - INTERLINE BRANDS, INC./DE | ibi-fy14q310qxex311.htm |
| EX-31.2 - EXHIBIT 31.2 - INTERLINE BRANDS, INC./DE | ibi-fy14q310qxex312.htm |
| EX-32.2 - EXHIBIT 32.2 - INTERLINE BRANDS, INC./DE | ibi-fy14q310qxex322.htm |
| EXCEL - IDEA: XBRL DOCUMENT - INTERLINE BRANDS, INC./DE | Financial_Report.xls |
| 10-Q - FORM 10-Q - INTERLINE BRANDS, INC./DE | ibi-10qxfy14xq3.htm |
EXHIBIT 12.1
Ratio of Earnings to Fixed Charges
(amounts in thousands other than ratios)
Predecessor | Successor | |||||||||||||||||||||||||||
Year Ended | For the period from December 31, 2011 through September 7, 2012 | For the period September 8, 2012 through December 28, 2012 | Year Ended | For the three months ended September 26, 2014 | For the nine months ended September 26, 2014 | |||||||||||||||||||||||
December 31, 2010 | December 30, 2011 | For the fiscal year ended December 27, 2013 | ||||||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||||||
Income (loss) before income taxes | $ | 46,750 | $ | 61,511 | $ | 24,208 | $ | (38,947 | ) | $ | (17,187 | ) | $ | 12,323 | $ | (61,297 | ) | |||||||||||
Fixed charges (from below) | 28,665 | 35,002 | 24,293 | 23,270 | 76,554 | 17,986 | 55,180 | |||||||||||||||||||||
Total earnings (loss) | $ | 75,415 | $ | 96,513 | $ | 48,501 | $ | (15,677 | ) | $ | 59,367 | $ | 30,309 | $ | (6,117 | ) | ||||||||||||
Fixed Charges: | ||||||||||||||||||||||||||||
Interest expense | $ | 18,710 | $ | 24,355 | $ | 16,631 | $ | 19,773 | $ | 63,087 | $ | 14,518 | $ | 44,708 | ||||||||||||||
Interest in rent expense estimated at 30% of rent expense | 9,955 | 10,647 | 7,662 | 3,497 | 13,467 | 3,468 | 10,472 | |||||||||||||||||||||
Total fixed charges (A) | $ | 28,665 | $ | 35,002 | $ | 24,293 | $ | 23,270 | $ | 76,554 | $ | 17,986 | $ | 55,180 | ||||||||||||||
Ratio of Earnings to Fixed Charges | 2.6 | 2.8 | 2.0 | (B) | (C) | 1.7 | (D) | |||||||||||||||||||||
(A) Preferred security dividends of Interline New Jersey were excluded from fixed charges as preferred stock was held solely by corporate parent. Effective July 1, 2012, preferred stock of Interline New Jersey was canceled and retired. | ||||||||||||||||||||||||||||
(B) For the period from September 8, 2012 through December 28, 2012, earnings were inadequate to cover fixed charges. The Company would have needed to generate additional earnings of $38.9 million to achieve a coverage ratio of 1.0 to 1.0 for this period. | ||||||||||||||||||||||||||||
(C) For the fiscal year ended December 27, 2013, earnings were inadequate to cover fixed charges. The Company would have needed to generate additional earnings of $17.2 million to achieve a coverage ratio of 1.0 to 1.0 for this period. | ||||||||||||||||||||||||||||
(D) For the nine months ended September 26, 2014, earnings were inadequate to cover fixed charges. The Company would have needed to generate additional earnings of $61.3 million to achieve a coverage ratio of 1.0 to 1.0 for this period. | ||||||||||||||||||||||||||||
Ratio of Earnings to Combined Fixed Charges and Preferred Dividends
(amounts in thousands other than ratios)
Predecessor | Successor | |||||||||||||||||||||||||||
Year Ended | For the period from December 31, 2011 through September 7, 2012 | For the period from September 8, 2012 through December 28, 2012 | Year Ended | For the three months ended September 26, 2014 | For the nine months ended September 26, 2014 | |||||||||||||||||||||||
December 31, 2010 | December 30, 2011 | December 27, 2013 | ||||||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||||||
Income (loss) before income taxes | $ | 46,750 | $ | 61,511 | $ | 24,208 | $ | (38,947 | ) | $ | (17,187 | ) | $ | 12,323 | $ | (61,297 | ) | |||||||||||
Fixed charges (from below) | 28,665 | 35,002 | 24,293 | 23,270 | 76,554 | 17,986 | 55,180 | |||||||||||||||||||||
Total earnings (loss) | $ | 75,415 | $ | 96,513 | $ | 48,501 | $ | (15,677 | ) | $ | 59,367 | $ | 30,309 | $ | (6,117 | ) | ||||||||||||
Fixed Charges: | ||||||||||||||||||||||||||||
Interest expense | $ | 18,710 | $ | 24,355 | $ | 16,631 | $ | 19,773 | $ | 63,087 | $ | 14,518 | $ | 44,708 | ||||||||||||||
Interest in rent expense estimated at 30% of rent expense | 9,955 | 10,647 | 7,662 | 3,497 | 13,467 | 3,468 | 10,472 | |||||||||||||||||||||
Total fixed charges (A) | $ | 28,665 | $ | 35,002 | $ | 24,293 | $ | 23,270 | $ | 76,554 | $ | 17,986 | $ | 55,180 | ||||||||||||||
Preferred dividends (calculated below) | — | — | — | — | — | — | — | |||||||||||||||||||||
Total combined fixed charges and preferred dividends | $ | 28,665 | $ | 35,002 | $ | 24,293 | $ | 23,270 | $ | 76,554 | $ | 17,986 | $ | 55,180 | ||||||||||||||
Ratio of Earnings to Combined Fixed Charges and Preferred Dividends | 2.6 | 2.8 | 2.0 | (B) | (C) | 1.7 | (D) | |||||||||||||||||||||
Surplus (Deficit) | $ | 46,750 | $ | 61,511 | $ | 24,208 | $ | (38,947 | ) | $ | (17,187 | ) | $ | 12,323 | $ | (61,297 | ) | |||||||||||
Preferred Dividends: | ||||||||||||||||||||||||||||
Preferred dividend amount (A) | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
Tax rate | 40.3 | % | 38.8 | % | 47.0 | % | 27.0 | % | 63.1 | % | 41.6 | % | 38.9 | % | ||||||||||||||
Preferred dividends | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
(A) Preferred security dividends of Interline New Jersey were excluded from fixed charges as preferred stock was held solely by corporate parent. Effective July 1, 2012, preferred stock of Interline New Jersey was canceled and retired. | ||||||||||||||||||||||||||||
(B) For the period from September 8, 2012 through December 28, 2012, earnings were inadequate to cover fixed charges. The Company would have needed to generate additional earnings of $38.9 million to achieve a coverage ratio of 1.0 to 1.0 for this period. | ||||||||||||||||||||||||||||
(C) For the fiscal year ended December 27, 2013, earnings were inadequate to cover fixed charges. The Company would have needed to generate additional earnings of $17.2 million to achieve a coverage ratio of 1.0 to 1.0 for this period. | ||||||||||||||||||||||||||||
(D) For the nine months ended September 26, 2014, earnings were inadequate to cover fixed charges. The Company would have needed to generate additional earnings of $61.3 million to achieve a coverage ratio of 1.0 to 1.0 for this period. | ||||||||||||||||||||||||||||