EX-12.1 34 a2211259zex-12_1.htm EX-12.1

Exhibit 12.1

 

FIFTH & PACIFIC COMPANIES, INC. AND SUBSIDIARIES

Computation of Ratios of Earnings to Fixed Charges

(In thousands)

 

 

 

Fiscal Years Ended

 

Nine Months Ended

 

 

 

December 29, 2007

 

January 3, 2009

 

January 2, 2010

 

January 1, 2011

 

December 31, 2011

 

October 1, 2011

 

September 29, 2012

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Add:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Loss) income from continuing operations before provision for income taxes (1)

 

$

(546,570

)

$

(507,349

)

$

(234,201

)

$

(91,287

)

$

137,326

 

$

(95,731

)

$

(115,318

)

Fixed charges

 

42,571

 

45,705

 

59,150

 

56,335

 

59,573

 

44,427

 

39,374

 

Income (loss) from equity investees

 

—

 

—

 

265

 

969

 

1,652

 

1,458

 

(474

)

Total adjustments

 

(503,999

)

(461,644

)

(174,786

)

(33,983

)

198,551

 

(49,846

)

(76,418

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Noncontrolling interest in pre-tax loss of subsidiaries that have not incurred fixed charges

 

516

 

251

 

(681

)

(842

)

—

 

—

 

—

 

 

 

516

 

251

 

(681

)

(842

)

—

 

—

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Earnings

 

$

(504,515

)

$

(461,895

)

$

(174,105

)

$

(33,141

)

$

198,551

 

$

(49,846

)

$

(76,418

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

42,571

 

$

45,705

 

$

58,042

 

$

54,883

 

$

57,985

 

$

43,368

 

$

38,042

 

Amortization of expense related to indebtedness (2)

 

—

 

—

 

1,108

 

1,452

 

1,588

 

1,059

 

1,332

 

Total Fixed Charges

 

$

42,571

 

$

45,705

 

$

59,150

 

$

56,335

 

$

59,573

 

$

44,427

 

$

39,374

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges

 

N/A

 

N/A

 

N/A

 

N/A

 

3.3

 

N/A

 

N/A

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deficiency of Earnings to Fixed Charges

 

$

(547,086

)

$

(507,600

)

$

(233,255

)

$

(89,476

)

$

N/A

 

$

(94,273

)

$

(115,792

)

 

(1) Excludes (loss) income from equity investees.

(2) Represents amortization of financing fees not included in Interest expense.