EX-12.1 2 rl-20131228x10qex121.htm EXHIBIT 12.1 RL-2013.12.28-10Q EX12.1



Exhibit 12.1
RALPH LAUREN CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES


 
Nine Months Ended
 
Fiscal Years Ended
 
December 28, 2013
 
March 30, 2013
March 31, 2012
April 2, 2011
April 3, 2010
March 28, 2009
 
(millions)
Earnings, as defined:
 
 
 
 
 
 
 
  Income before provision for income taxes
$
877

 
$
1,089

$
1,015

$
825

$
689

$
587

    Add:
 
 
 
 
 
 
 
       Equity in losses of equity-method investees
7

 
10

9

8

6

5

       Fixed charges
126

 
162

164

124

111

106

    Subtract:
 
 
 
 
 
 
 
       Income attributable to noncontrolling interests
—

 
1

—

—

—

—

Earnings available to cover fixed charges
$
1,010

 
$
1,260

$
1,188

$
957

$
806

$
698

 
 
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
 
 
  Interest expense
15

 
19

22

18

22

27

  Interest component of rent expense
111

 
143

142

106

89

79

Total fixed charges
$
126

 
$
162

$
164

$
124

$
111

$
106

 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges(a)
8.0

 
7.8

7.3

7.7

7.2

6.6

 
(a)
All ratios shown in the above table have been calculated using unrounded numbers.