EX-12.1 3 dex121.htm COMPUTATION OF EARNINGS TO FIXED CHARGES Computation of Earnings to Fixed Charges

Exhibit 12.1

The following tables sets forth our historical ratio of earnings to fixed charges for the periods indicated, in thousands:

 

     Six
Months Ended
   Fiscal Years Ended
     July 31,
2010
   January 30,
2010
   January 31,
2009
    January 31,
2008
   January 31,
2007
   January 31,
2006

Net income (loss) attributed to Perry Ellis International, Inc.

   $ 9,226    $ 13,167    $ (12,890   $ 28,173    $ 22,409    $ 22,682

Add:

                

Income tax provision (benefit)

     4,559      3,615      (3,682     15,785      12,311      12,639

Interest expense and amortization of debt costs

     7,334      17,908      18,183        18,362      21,895      22,871

Costs of early extinguishment of debt

     730      357      —          —        2,963   

Estimated operating lease interest (b)

     2,037      4,197      3,967        3,118      2,774      2,669
                                          

Total earnings available for fixed charges

   $ 23,886    $ 39,244    $ 5,578      $ 65,438    $ 62,352    $ 60,861
                                          

Fixed Charges:

                

Interest expense and amortization of debt costs

   $ 7,334    $ 17,908    $ 18,183      $ 18,362    $ 21,895    $ 22,871

Costs of early extinguishment of debt

     730      357      —          —        2,963   

Estimated operating lease interest (b)

     2,037      4,197      3,967        3,118      2,774      2,669
                                          

Total fixed charges

   $ 10,101    $ 22,462    $ 22,150      $ 21,480    $ 27,632    $ 25,540
                                          

Ratio of earnings to fixed charges

     2.4      1.8      (a     3.1      2.3      2.4

 

(a) The earnings available for fixed charges for the year ended January 31, 2009 were inadequate to cover the total fixed charges. The coverage deficiencies in earnings available for fixed charges for a one-to-one ratio for the year ended January 31, 2009 were $16.6 million.
(b) The estimated interest portions of operating leases were calculated based upon the company's lease portfolio and cost of borrowing.