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Exhibit 12.1
RALPH LAUREN CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Six Months Ended | Fiscal Years Ended | ||||||||||||||||||
September 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 | $ | 553 | $ | 1,089 | $ | 1,015 | $ | 825 | $ | 689 | $ | 587 | |||||||
Add: | |||||||||||||||||||
Equity in losses of equity-method investees | 5 | 10 | 9 | 8 | 6 | 5 | |||||||||||||
Fixed charges | 82 | 162 | 164 | 124 | 111 | 106 | |||||||||||||
Subtract: | |||||||||||||||||||
Income attributable to noncontrolling interests | — | 1 | — | — | — | — | |||||||||||||
Earnings available to cover fixed charges | $ | 640 | $ | 1,260 | $ | 1,188 | $ | 957 | $ | 806 | $ | 698 | |||||||
Fixed Charges: | |||||||||||||||||||
Interest expense | 10 | 19 | 22 | 18 | 22 | 27 | |||||||||||||
Interest component of rent expense | 72 | 143 | 142 | 106 | 89 | 79 | |||||||||||||
Total fixed charges | $ | 82 | $ | 162 | $ | 164 | $ | 124 | $ | 111 | $ | 106 | |||||||
Ratio of earnings to fixed charges(a) | 7.8 | 7.8 | 7.3 | 7.7 | 7.2 | 6.6 |
(a) | All ratios shown in the above table have been calculated using unrounded numbers. |