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As Of Filer Filing For·On·As Docs:Size Issuer Agent 2/19/15 Lawson Products Inc/New/DE S-3 7:891K McDermott Will… Emery/FA |
Document/Exhibit Description Pages Size 1: S-3 Registration Statement for Securities Offered HTML 166K Pursuant to a Transaction 2: EX-4.1 Form of Indenture for Senior Debt HTML 191K 3: EX-4.2 Form of Indenture for Subordinated Debt Securities HTML 183K 4: EX-5.1 Opinion of McDermott Will & Emery LLP HTML 22K 5: EX-12.1 Computation of Ratio of Earnings to Fixed Charges HTML 16K 6: EX-23.1 Consent of Bdo Usa, LLP HTML 11K 7: EX-23.2 Consent of Ernst & Young LLP HTML 5K
Exhibit 12.1
LAWSON PRODUCTS, INC.
STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Year Ended December 31, | ||||||||||||||||||||
2014 (1) | 2013 (2) | 2012 (3) | 2011 (4) | 2010 (5) | ||||||||||||||||
Computation of Earnings (Loss): | ||||||||||||||||||||
Pre-Tax Loss on Continuing Operations | $ | (5,834,000 | ) | $ | (7,122,000 | ) | $ | (46,098,000 | ) | $ | (6,356,000 | ) | $ | 16,179,000 | ||||||
Fixed Charges | 1,299,000 | 1,752,000 | 1,528,000 | 920,000 | 815,000 | |||||||||||||||
Total Earnings (Loss) | $ | (4,535,000 | ) | $ | (5,370,000 | ) | $ | (44,570,000 | ) | $ | (5,436,000 | ) | $ | 16,994,000 | ||||||
Computation of Fixed Charges: | ||||||||||||||||||||
Credit Line Interest | $ | 416,000 | $ | 722,000 | $ | 551,000 | $ | 604,000 | $ | 292,000 | ||||||||||
Financing Lease Interest | 341,000 | 363,000 | 203,000 | — | — | |||||||||||||||
Capital Lease Interest | 15,000 | 12,000 | 21,000 | 77,000 | 99,000 | |||||||||||||||
Estimate of Interest Within Operating Leases (6) | 527,000 | 655,000 | 753,000 | 239,000 | 424,000 | |||||||||||||||
Total Fixed Charges | $ | 1,299,000 | $ | 1,752,000 | $ | 1,528,000 | $ | 920,000 | $ | 815,000 | ||||||||||
Earnings to Fixed Charges | (na) | (na) | (na) | (na) | 20.9x | |||||||||||||||
Coverage Deficit on Fixed Charges | $ | 4,535,000 | $ | 5,370,000 | $ | 44,570,000 | $ | 5,436,000 | $ | — |
(1) | The 2014 loss includes a $3.0 million impairment charge related to the Reno, Nevada, distribution center. | |
(2) | The 2013 loss includes a $2.9 million charge related to the sub-lease of a portion of the leased headquarters and a $0.4 million benefit from the resolution of an employment tax matter. |
(3) | The 2012 loss includes a goodwill impairment charge of $28.3 million, a $3.9 million charge related to discontinuing certain products and a $3.7 million gain on the sale of assets. |
(4) | The 2011 loss includes a $1.2 million provision for the estimated cost of settling an employment tax matter. |
(5) | The 2010 earnings include a $4.1 million benefit from legal settlements and a $1.7 million gain on sale of assets. |
(6) | Estimate of interest within operating leases is calculated under the assumption that 30% of operating lease expense is representative of interest costs. |
This ‘S-3’ Filing | Date | Other Filings | ||
---|---|---|---|---|
Filed on: | 2/19/15 | 10-K, 8-K | ||
12/31/14 | 4, 5 | |||
List all Filings |
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 3/17/23 Dist Solutions Group, Inc. S-3 6:470K Donnelley … Solutions/FA |