EX-12.1
Published on May 28, 2013
Exhibit 12.1
THE HILLMAN COMPANIES INC.
Computation of Ratio of Income to Fixed Charges
(Dollars in thousands)
| Three Months Ended 3/31/2013 |
Year Ended 12/31/2012 |
Three Months Ended 3/31/2012 |
Year Ended 12/31/2011 |
Seven Months Ended 12/31/2010 |
Five Months Ended 5/28/2010 |
Year Ended 12/31/2009 |
Year Ended 12/31/2008 |
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| Income before Income Taxes |
$ | (7,227 | ) | $ | (12,402 | ) | $ | (4,324 | ) | $ | (14,458 | ) | $ | (11,163 | ) | $ | (27,673 | ) | $ | 9,059 | $ | 3,858 | ||||||||||
| Add fixed charges: |
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| Interest expense |
15,105 | 53,748 | 13,254 | 53,289 | 28,068 | 19,069 | 40,653 | 44,245 | ||||||||||||||||||||||||
| Amortization of debt expense |
800 | 3,200 | 800 | 2,975 | 1,450 | | 1,011 | 2,283 | ||||||||||||||||||||||||
| Interest portion of rent expense |
929 | 2,929 | 737 | 3,013 | 1,673 | 1,195 | 2,905 | 3,162 | ||||||||||||||||||||||||
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| Adjusted income |
$ | 9,607 | $ | 47,475 | $ | 10,467 | $ | 44,819 | $ | 20,028 | $ | (7,409 | ) | $ | 53,628 | $ | 53,548 | |||||||||||||||
| Fixed charges: |
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| Interest expense |
15,105 | 53,748 | 13,254 | 53,289 | 28,068 | 19,069 | 40,653 | 44,245 | ||||||||||||||||||||||||
| Amortization of debt expense |
800 | 3,200 | 800 | 2,975 | 1,450 | | 1,011 | 2,283 | ||||||||||||||||||||||||
| Interest portion of rent expense |
929 | 2,929 | 737 | 3,013 | 1,673 | 1,195 | 2,905 | 3,162 | ||||||||||||||||||||||||
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| Fixed charges |
$ | 16,834 | $ | 59,877 | $ | 14,791 | $ | 59,277 | $ | 31,191 | $ | 20,264 | $ | 44,569 | $ | 49,690 | ||||||||||||||||
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| Ratio of earnings to Fixed Charges (1) |
| | | | | | 1.20 | 1.08 | ||||||||||||||||||||||||
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| (1) | The ratio of earnings to fixed charges has been computed by adding income before income taxes and fixed charges to derive adjusted income, and dividing adjusted income by fixed charges. Fixed charges consist of interest expense on debt (including the amortization of debt expense) and one-third (the proportion deemed representative of the interest portion) of rent expense. |
| For the three months ending March 31, 2013, the three months ending March 31, 2012 and the years ending December 31, 2012 and 2011, and the seven months ended December 31, 2010 and the five months ended May 28, 2010, the ratio of earnings to fixed charges indicates earnings are inadequate to cover fixed charges as defined above. The deficiency totals are $7,227, $4,324, $12,402, $14,458, $11,163 and $27,673. |