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 | For the three months ended September 27, 2013 | For the nine months ended September 27, 2013 | ||||||||||||||||||||||||||||
December 26, 2008 | December 25, 2009 | December 31, 2010 | December 30, 2011 | |||||||||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||||||||||
Income (loss) before income taxes | $ | 65,458 | $ | 43,161 | $ | 46,750 | $ | 61,511 | $ | 24,208 | $ | (38,947 | ) | $ | (11,213 | ) | $ | (15,246 | ) | |||||||||||||
Fixed charges (from below) | 39,218 | 29,600 | 28,665 | 35,002 | 24,293 | 23,270 | 19,116 | 57,400 | ||||||||||||||||||||||||
Total earnings (loss) | $ | 104,676 | $ | 72,761 | $ | 75,415 | $ | 96,513 | $ | 48,501 | $ | (15,677 | ) | $ | 7,903 | $ | 42,154 | |||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||||||||||
Interest expense | $ | 28,482 | $ | 19,044 | $ | 18,710 | $ | 24,355 | $ | 16,631 | $ | 19,773 | $ | 15,753 | $ | 47,356 | ||||||||||||||||
Interest in rent expense estimated at 30% of rent expense | 10,736 | 10,556 | 9,955 | 10,647 | 7,662 | 3,497 | 3,363 | 10,044 | ||||||||||||||||||||||||
Total fixed charges (A) | $ | 39,218 | $ | 29,600 | $ | 28,665 | $ | 35,002 | $ | 24,293 | $ | 23,270 | $ | 19,116 | $ | 57,400 | ||||||||||||||||
Ratio of Earnings to Fixed Charges | 2.7 | 2.5 | 2.6 | 2.8 | 2.0 | (B) | (C) | (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 three months ended September 27, 2013, earnings were inadequate to cover fixed charges. The Company would have needed to generate additional earnings of $11.2 million to achieve a coverage ratio of 1.0 to 1.0 for this period. | ||||||||||||||||||||||||||||||||
(D) For the nine months ended September 27, 2013, earnings were inadequate to cover fixed charges. The Company would have needed to generate additional earnings of $15.2 million to achieve a coverage ratio of 1.0 to 1.0 for this period. | ||||||||||||||||||||||||||||||||
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 | For the three months ended September 27, 2013 | For the nine months ended September 27, 2013 | ||||||||||||||||||||||||||||
December 26, 2008 | December 25, 2009 | December 31, 2010 | December 30, 2011 | |||||||||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||||||||||
Income (loss) before income taxes | $ | 65,458 | $ | 43,161 | $ | 46,750 | $ | 61,511 | $ | 24,208 | $ | (38,947 | ) | $ | (11,213 | ) | $ | (15,246 | ) | |||||||||||||
Fixed charges (from below) | 39,218 | 29,600 | 28,665 | 35,002 | 24,293 | 23,270 | 19,116 | 57,400 | ||||||||||||||||||||||||
Total earnings (loss) | $ | 104,676 | $ | 72,761 | $ | 75,415 | $ | 96,513 | $ | 48,501 | $ | (15,677 | ) | $ | 7,903 | $ | 42,154 | |||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||||||||||
Interest expense | $ | 28,482 | $ | 19,044 | $ | 18,710 | $ | 24,355 | $ | 16,631 | $ | 19,773 | $ | 15,753 | $ | 47,356 | ||||||||||||||||
Interest in rent expense estimated at 30% of rent expense | 10,736 | 10,556 | 9,955 | 10,647 | 7,662 | 3,497 | 3,363 | 10,044 | ||||||||||||||||||||||||
Total fixed charges (A) | $ | 39,218 | $ | 29,600 | $ | 28,665 | $ | 35,002 | $ | 24,293 | $ | 23,270 | $ | 19,116 | $ | 57,400 | ||||||||||||||||
Preferred dividends (calculated below) | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Total combined fixed charges and preferred dividends | $ | 39,218 | $ | 29,600 | $ | 28,665 | $ | 35,002 | $ | 24,293 | $ | 23,270 | $ | 19,116 | $ | 57,400 | ||||||||||||||||
Ratio of Earnings to Combined Fixed Charges and Preferred Dividends | 2.7 | 2.5 | 2.6 | 2.8 | 2.0 | (B) | (C) | (D) | ||||||||||||||||||||||||
Surplus (Deficit) | $ | 65,458 | $ | 43,161 | $ | 46,750 | $ | 61,511 | $ | 24,208 | $ | (38,947 | ) | $ | (11,213 | ) | $ | (15,246 | ) | |||||||||||||
Preferred Dividends: | ||||||||||||||||||||||||||||||||
Preferred dividend amount (A) | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
Tax rate | 37.6 | % | 39.6 | % | 40.3 | % | 38.8 | % | 47.0 | % | 27.0 | % | 35.7 | % | 50.7 | % | ||||||||||||||||
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 three months ended September 27, 2013, earnings were inadequate to cover fixed charges. The Company would have needed to generate additional earnings of $11.2 million to achieve a coverage ratio of 1.0 to 1.0 for this period. | ||||||||||||||||||||||||||||||||
(D) For the nine months ended September 27, 2013, earnings were inadequate to cover fixed charges. The Company would have needed to generate additional earnings of $15.2 million to achieve a coverage ratio of 1.0 to 1.0 for this period. | ||||||||||||||||||||||||||||||||