Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
| 2010 | 2011 | 2012 | 2013 | 2014 | ||||||||||||||||
| Earnings: |
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| Pre-tax income from continuing operations |
18,427 | 23,525 | 24,640 | (65,464 | ) | (37,915 | ) | |||||||||||||
| Add Fixed charges |
2,934 | 2,851 | 4,034 | 19,796 | 32,079 | |||||||||||||||
| Capitalized Interest |
0 | 0 | 0 | 0 | 0 | |||||||||||||||
| Amortization of Capitalized Interest |
0 | 0 | 0 | 0 | 0 | |||||||||||||||
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| Earnings (loss), as adjusted |
21,361 | 26,376 | 28,674 | (45,668 | ) | (5,836 | ) | |||||||||||||
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| Fixed charges: |
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| Interest expense on debt & amortization of deferred financing costs |
696 | 669 | 1,771 | 16,962 | 29,280 | |||||||||||||||
| Capitalized Interest |
0 | 0 | 0 | — | 0 | |||||||||||||||
| Interest component of rental expense (1) |
2,238 | 2,182 | 2,263 | 2,834 | 2,799 | |||||||||||||||
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| Fixed charges |
2934 | 2851 | 4034 | 19796 | 32079 | |||||||||||||||
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| Ratio of earnings to fixed charges |
7.3 | x | 9.3 | x | 7.1 | x | -2.3 | x | -0.2 | x | ||||||||||
| Capitalized Interest |
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| 3/31/13 GJ 0000000016769 |
51,901 | ** | ||||||||||||||||||
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| Total |
51,901 | |||||||||||||||||||
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| Rounded |
52 | |||||||||||||||||||
| **Not deemed material. 2013, 2014 is negative. |
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| Reported interest per IS |
696 | 669 | 1,771 | 16,962 | 29,280 | |||||||||||||||
| RENTAL COS |
$ | 5,703,777 | $ | 5,568,379 | $ | 5,957,635 | $ | 7,577,008 | $ | 7,430,261 | ||||||||||
| RENTAL SGA |
$ | 1,010,443 | $ | 978,431 | $ | 831,536 | $ | 923,628 | $ | 965,406 | ||||||||||
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| Total Rents |
$ | 6,714,221 | $ | 6,546,810 | $ | 6,789,172 | $ | 8,500,636 | $ | 8,395,667 | ||||||||||
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| FACTOR |
1/3 | 1/3 | 1/3 | 1/3 | 1/3 | |||||||||||||||
| Extended |
$ | 2,238,074 | $ | 2,182,270 | $ | 2,263,057 | $ | 2,833,545 | $ | 2,798,556 | ||||||||||
| Rounded |
2,238 | 2,182 | 2,263 | 2,834 | 2,799 | |||||||||||||||
| interest rec/GL Inquiry | ||||||||||||||||||||
| (1) | The interest component of rental expense is estimated to be 1/3rd of such expense, which is considered a reasonable approximation of the interest factor. |