Attached files
| file | filename |
|---|---|
| 10-K - TOPS-10K-20161231 - TOPS HOLDING II CORP | ck0001584701-10k_20161231.htm |
| EX-32.2 - EX-32.2 - TOPS HOLDING II CORP | ck0001584701-ex322_7.htm |
| EX-32.1 - EX-32.1 - TOPS HOLDING II CORP | ck0001584701-ex321_11.htm |
| EX-31.2 - EX-31.2 - TOPS HOLDING II CORP | ck0001584701-ex312_10.htm |
| EX-31.1 - EX-31.1 - TOPS HOLDING II CORP | ck0001584701-ex311_9.htm |
Exhibit 12.1
TOPS HOLDING II CORPORATION
RATIO OF EARNINGS TO FIXED CHARGES
The following table sets forth our ratio of consolidated earnings to consolidated fixed charges for Fiscal 2016, Fiscal 2015, Fiscal 2014, the Fiscal 2013 Successor Period, the Fiscal 2013 Predecessor Period and Fiscal 2012 (dollars in thousands, except ratio data).
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Successor |
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Predecessor |
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Fiscal |
|
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Fiscal |
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Fiscal |
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|
Fiscal |
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Fiscal |
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|
Fiscal |
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|
|
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2016 |
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2015 |
|
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2014 |
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2013 |
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|
2013 |
|
|
2012 |
|
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|
|
|
(52 weeks) |
|
|
(53 weeks) |
|
|
(52 weeks) |
|
|
(4 weeks) |
|
|
|
(48 weeks) |
|
|
(52 weeks) |
|
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|
Earnings: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pre-tax loss |
|
$ |
(42,351 |
) |
|
$ |
(60,265 |
) |
|
$ |
(22,190 |
) |
|
$ |
(3,067 |
) |
|
|
$ |
(24,946 |
) |
|
$ |
(21,542 |
) |
|
Plus: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fixed charges |
|
|
92,156 |
|
|
|
94,608 |
|
|
|
93,327 |
|
|
|
7,309 |
|
|
|
|
73,349 |
|
|
|
67,602 |
|
|
Amortization of capitalized interest |
|
|
25 |
|
|
|
35 |
|
|
|
36 |
|
|
|
3 |
|
|
|
|
167 |
|
|
|
189 |
|
|
Total available earnings |
|
$ |
49,830 |
|
|
$ |
34,378 |
|
|
$ |
71,173 |
|
|
$ |
4,245 |
|
|
|
$ |
48,570 |
|
|
$ |
46,249 |
|
|
Fixed charges: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expensed |
|
$ |
78,018 |
|
|
$ |
80,363 |
|
|
$ |
78,806 |
|
|
$ |
5,891 |
|
|
|
$ |
61,274 |
|
|
$ |
55,209 |
|
|
Amortization of discounts and capitalized costs |
|
|
2,871 |
|
|
|
3,690 |
|
|
|
4,240 |
|
|
|
579 |
|
|
|
|
2,892 |
|
|
|
3,417 |
|
|
Interest in rental expenses |
|
|
11,267 |
|
|
|
10,555 |
|
|
|
10,281 |
|
|
|
839 |
|
|
|
|
9,183 |
|
|
|
8,976 |
|
|
Total fixed charges: |
|
$ |
92,156 |
|
|
$ |
94,608 |
|
|
$ |
93,327 |
|
|
$ |
7,309 |
|
|
|
$ |
73,349 |
|
|
$ |
67,602 |
|
|
Deficiency |
|
$ |
(42,326 |
) |
|
$ |
(60,230 |
) |
|
$ |
(22,154 |
) |
|
$ |
(3,064 |
) |
|
|
$ |
(24,779 |
) |
|
$ |
(21,353 |
) |
|
Ratio of earnings to fixed charges |
|
(A) |
|
|
(B) |
|
|
(C) |
|
|
(D) |
|
|
|
(E) |
|
|
(F) |
|
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|
(A) |
Due to the Company’s loss in Fiscal 2016, the ratio coverage was less than 1:1. The Company must generate additional earnings of $42,326 to achieve a coverage ratio of 1:1. |
|
(B) |
Due to the Company’s loss in Fiscal 2015, the ratio coverage was less than 1:1. The Company must generate additional earnings of $60,230 to achieve a coverage ratio of 1:1. |
|
(C) |
Due to the Company’s loss in Fiscal 2014, the ratio coverage was less than 1:1. The Company must generate additional earnings of $22,154 to achieve a coverage ratio of 1:1. |
|
(D) |
Due to the Company’s loss in the Fiscal 2013 Successor Period, the ratio coverage was less than 1:1. The Company must generate additional earnings of $3,064 to achieve a coverage ratio of 1:1. |
|
(E) |
Due to the Company’s loss in the Fiscal 2013 Predecessor Period, the ratio coverage was less than 1:1. The Company must generate additional earnings of $24,779 to achieve a coverage ratio of 1:1. |
|
(F) |
Due to the Company’s loss in Fiscal 2012, the ratio coverage was less than 1:1. The Company must generate additional earnings of $21,353 to achieve a coverage ratio of 1:1. |