EX-12.1 9 d645424dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

Hanesbrands Inc.

Ratio of Earnings to Fixed Charges

(Dollars in thousands)

(Unaudited)

 

     Nine Months
Ended
    Years Ended  
     September 28,
2013
    December 29,
2012
    December 31,
2011
    January 1,
2011
    January 2,
2010
    January 3,
2009
 

Earnings, as defined:

            

Income from continuing operations before income tax expense, noncontrolling interest and income/loss from equity investees

   $ 365,739      $ 263,606      $ 284,822      $ 211,304      $ 51,628      $ 137,844   

Fixed charges

     95,565        163,475        183,030        174,045        190,421        178,731   

Amortization of capitalized interest

     2,056        2,842        3,252        3,824        3,722        3,632   

Distributed income of equity investees

     —          —          —          —          —          —     

Interest capitalized

     (700     (1,155     (2,043     (2,190     (6,559     (4,047

Noncontrolling interest in pre-tax income

     —          —          —          (1,019     (1,173     (158
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total earnings, as defined

   $ 462,660      $ 428,768      $ 469,061      $ 385,964      $ 238,039      $ 316,002   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Fixed charges, as defined:

            

Interest expense

   $ 72,090      $ 130,094      $ 148,759      $ 139,827      $ 158,567      $ 155,247   

Amortized premiums, discounts and capitalized expenses related to indebtedness

     5,160        9,168        10,367        12,739        10,967        6,032   

Interest factor in rental expenses

     18,315        24,213        23,904        21,479        20,887        17,452   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total fixed charges, as defined

   $ 95,565      $ 163,475      $ 183,030      $ 174,045      $ 190,421      $ 178,731   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Ratio of earnings to fixed charges

     4.84        2.62        2.56        2.22        1.25        1.77   

 

Note: The Ratio of Earnings to Fixed Charges should be read in conjunction with our consolidated financial statements and Management’s Discussion and Analysis of Financial Condition and Results of Operations incorporated by reference in this Registration Statement. The interest expense included in the fixed charges calculation above excludes interest expense relating to the Company’s uncertain tax positions. The interest factor in rental expenses is calculated as one-third of rent expense.