Exhibit 12.1
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Computation of Ratio of Earnings to Fixed Charges |
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(Dollars in Thousands, Except Ratios) |
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(Unaudited) |
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Fiscal Year |
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2017 |
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2016 |
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2015 |
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2014 |
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2013 |
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Earnings as defined: |
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Pre-tax income |
32,830 |
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47,285 |
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45,156 |
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22,412 |
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34,588 |
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Interest expense |
13,738 |
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13,403 |
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14,156 |
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13,487 |
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25,447 |
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Interest portion of rental expense (1) |
14,155 |
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12,419 |
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11,044 |
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10,161 |
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8,450 |
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Total earnings |
60,723 |
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73,107 |
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70,356 |
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46,060 |
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68,485 |
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Fixed charges as defined: |
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Interest expense |
13,738 |
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13,403 |
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14,156 |
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13,487 |
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25,447 |
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Interest portion of rent expense (1) |
14,155 |
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12,419 |
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11,044 |
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10,161 |
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8,450 |
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Total fixed charges |
27,893 |
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25,822 |
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25,200 |
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23,648 |
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33,897 |
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Ratio of earnings to fixed charges |
2.18 |
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2.83 |
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2.79 |
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1.95 |
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2.02 |
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________________________ |
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(1) One third of rent expense is the portion deemed representative of the interest factor. |
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