EXHIBIT 12.1

TrueBlue, Inc.
Computation of Ratio of Earnings to Fixed Charges
(in thousands, except ratios)

 
 
Twenty-six weeks ended
 
Year Ended December
 
 
June 26, 2015
 
2014
 
2013
 
2012
 
2011
 
2010
Earnings:
 
 
 
 
 
 
 
 
 
 
 
 
   Income from continuing operations
 
$
30,697

 
$
81,844

 
$
60,937

 
$
54,605

 
$
49,324

 
$
29,162

   Fixed charges
 
2,762

 
4,191

 
1,923

 
1,791

 
1,870

 
2,193

Total earnings
 
$
33,459

 
$
86,035

 
$
62,860

 
$
56,396

 
$
51,194

 
$
31,355

 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
 
 
 
   Interest expense
 
$
2,048

 
$
3,156

 
$
1,248

 
$
1,131

 
$
1,207

 
$
1,515

   Interest component of rent expense
 
714

 
1,035

 
675

 
660

 
663

 
678

Total fixed charges
 
$
2,762

 
$
4,191

 
$
1,923

 
$
1,791

 
$
1,870

 
$
2,193

Ratio of earnings to fixed charges (1)
 
12.1

 
20.5

 
32.7

 
31.5

 
27.4

 
14.3

(1)
For purposes of calculating the ratio of earnings to fixed charges, earnings equals (a) earnings from continuing operations before income taxes plus (b) fixed charges. Fixed charges equals (x) interest expense plus (y) the portion of rental expense, which management believes is representative of the interest component of rent expense.