Exhibit 12
LEVI STRAUSS & CO. AND SUBSIDIARIES
Statements re: Computation of Ratio of Earnings to Fixed Charges
	Year Ended
	November 30, 2014			November 24, 2013			November 25, 2012			November 27, 2011			November 28, 2010
	(Dollars in thousands)
Earnings:
Income before income taxes	$	153,854		$	322,613		$	195,881		$	202,827		$	235,598
Add: Fixed charges	182,831			195,071			197,771			192,256			190,425
Add: Amortization of capitalized interest	1,040			876			571			334			152
Subtract: Capitalized interest	905			1,201			1,028			2,009			881
Total earnings	$	336,820		$	517,359		$	393,195		$	393,408		$	425,294
Fixed Charges:
Interest expense (includes amortization of debt discount and costs)	$	117,597		$	129,024		$	134,694		$	132,043		$	135,823
Capitalized interest	905			1,201			1,028			2,009			881
Interest factor in rental expense(1)	64,329			64,846			62,049			58,204			53,721
Total fixed charges	$	182,831		$	195,071		$	197,771		$	192,256		$	190,425
Ratio of earnings to fixed charges	1.8		x	2.7		x	2.0		x	2.0		x	2.2		x

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(1) Utilized an assumed interest factor of 33% in rental expense.

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