EX-12.1 4 exhibit12-1.htm CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES

Exhibit 12.1

HANESBRANDS INC.
RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in thousands)
(Unaudited)

Years Ended
    January 2,     January 3,     December 28,     December 29,     December 31,
2016 2015 2013 2012 2011
Earnings, as defined:
       Income from continuing operations
              before income tax expense,
              noncontrolling interest and
              income/loss from equity investees $ 474,568 $ 464,836 $ 395,866 $ 263,606 $ 284,822
       Fixed charges 156,303 129,034 129,034 163,475 183,030
       Amortization of capitalized interest 2,758 2,719 2,754 2,842 3,252
       Interest capitalized (2,566 ) (1,355 ) (930 ) (1,155 ) (2,043 )
       Noncontrolling interest in pre-tax
              income
                     Total earnings, as defined $ 631,063 $ 595,234 $ 526,724 $ 428,768 $ 469,061
Fixed charges, as defined:
       Interest expense $ 114,686 $ 93,080 $ 97,054 $ 130,094 $ 148,759
       Amortized premiums, discounts and
              capitalized expenses related to
              indebtedness 7,077 6,011 6,921 9,168 10,367
       Interest factor in rental expenses 34,540 29,886 25,059 24,213 23,904
                     Total fixed charges, as defined $          156,303 $          128,977 $          129,034 $          163,475 $          183,030
 
Ratio of earnings to fixed charges 4.04 4.62 4.08 2.62 2.56

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.