Attached files
| file | filename |
|---|---|
| EX-32.2 - EXHIBIT 32.2 - Tops Holding LLC | c14789exv32w2.htm |
| EX-32.1 - EXHIBIT 32.1 - Tops Holding LLC | c14789exv32w1.htm |
| EX-31.2 - EXHIBIT 31.2 - Tops Holding LLC | c14789exv31w2.htm |
| EX-31.1 - EXHIBIT 31.1 - Tops Holding LLC | c14789exv31w1.htm |
| EX-14.1 - EXHIBIT 14.1 - Tops Holding LLC | c14789exv14w1.htm |
| 10-K - FORM 10-K - Tops Holding LLC | c14789e10vk.htm |
Exhibit 12.1
TOPS HOLDING COPRORATION
RATIO OF EARNINGS TO FIXED CHARGES
RATIO OF EARNINGS TO FIXED CHARGES
The following table sets forth our ratio of consolidated earnings to consolidated fixed charges for
Fiscal 2010, Fiscal 2009, Fiscal 2008, the Fiscal 2007 Successor Period, the Fiscal 2007
Predecessor Period and Fiscal 2006 (dollars in thousands, except ratio data).
| Tops Holding Corporation | Tops Markets, LLC | ||||||||||||||||||||||||
| Fiscal | Fiscal | ||||||||||||||||||||||||
| 2007 | 2007 | ||||||||||||||||||||||||
| Fiscal | Fiscal | Fiscal | Successor | Predecessor | Fiscal | ||||||||||||||||||||
| 2010 | 2009 | 2008 | Period | Period | 2006 | ||||||||||||||||||||
| (52 weeks) (1) | (53 weeks) | (52 weeks) | (4 weeks) | (48 weeks) (2) | (52 weeks) (2) | ||||||||||||||||||||
Earnings: |
|||||||||||||||||||||||||
Pre-tax (loss) income |
$ | (35,958 | ) | $ | (20,308 | ) | $ | (17,160 | ) | $ | 1,979 | $ | (54,777 | ) | $ | (25,769 | ) | ||||||||
Plus: |
|||||||||||||||||||||||||
Fixed charges |
69,393 | 50,838 | 48,285 | 3,202 | 50,781 | 38,272 | |||||||||||||||||||
Amortization of capitalized interest |
269 | 269 | 175 | 13 | 29 | 32 | |||||||||||||||||||
Less: |
|||||||||||||||||||||||||
Interest capitalized |
— | — | 507 | — | — | — | |||||||||||||||||||
Total available earnings |
$ | 33,704 | $ | 30,799 | $ | 30,793 | $ | 5,194 | $ | (3,967 | ) | $ | 12,535 | ||||||||||||
Fixed charges: |
|||||||||||||||||||||||||
Interest expensed |
$ | 58,316 | $ | 42,970 | $ | 40,503 | $ | 2,763 | $ | 46,883 | $ | 34,510 | |||||||||||||
Interest capitalized |
— | — | 507 | — | — | — | |||||||||||||||||||
Amortization of discounts/ capitalized costs |
2,728 | 1,466 | 1,401 | 76 | 4 | — | |||||||||||||||||||
Interest in rental expenses |
8,349 | 6,402 | 5,874 | 363 | 3,894 | 3,762 | |||||||||||||||||||
Total fixed charges: |
$ | 69,393 | $ | 50,838 | $ | 48,285 | $ | 3,202 | $ | 50,781 | $ | 38,272 | |||||||||||||
Deficiency |
$ | (35,689 | ) | $ | (20,039 | ) | $ | (17,492 | ) | $ | (54,748 | ) | $ | (25,737 | ) | ||||||||||
Ratio of earnings to fixed charges |
(A) | (B) | (C) | 1.62 | (D) | (E) | |||||||||||||||||||
| (A) | Due to the Company’s loss in Fiscal 2010, the ratio coverage was less than 1:1. The Company
must generate additional earnings of $35,689 to achieve a coverage ratio of 1:1. |
|
| (B) | Due to the Company’s loss in Fiscal 2009, the ratio coverage was less than 1:1. The Company
must generate additional earnings of $20,039 to achieve a coverage ratio of 1:1. |
|
| (C) | Due to the Company’s loss in Fiscal 2008, the ratio coverage was less than 1:1. The Company
must generate additional earnings of $17,492 to achieve a coverage ratio of 1:1. |
|
| (D) | Due to the Company’s loss in the Fiscal 2007 Predecessor Period, the ratio coverage was less
than 1:1. The Company must generate additional earnings of $54,748 to achieve a coverage
ratio of 1:1. |
|
| (E) | Due to the Company’s loss in Fiscal 2006, the ratio coverage was less than 1:1. The Company
must generate additional earnings of $25,737 to achieve a coverage ratio of 1:1. |
|
| (1) | Fiscal 2010 includes the operating results of the acquired Penn Traffic supermarkets
following the January 29, 2010 Acquisition. |
|
| (2) | The operating results during these periods represent those of Tops Markets, LLC under the
ownership of Koninklijke Ahold N.V. |