Exhibit 12.1
lululemon athletica inc.
Computation of Earnings to Fixed Charges
Computation of Earnings to Fixed Charges
Three Months | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | |||||||||||||||||||
Ended | January 31, | February 1, | February 3, | January 31, | January 31, | |||||||||||||||||||
May 2, 2010 | 2010 | 2009 | 2008 | 2007 | 31, 2006 | |||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Income before provision for income taxes | $ | 32,635,357 | $ | 86,710,069 | $ | 57,385,578 | $ | 52,580,325 | $ | 16,728,052 | $ | 3,726,708 | ||||||||||||
Add back: Interest expense | 1,853 | 156,641 | 44,697 | 160,400 | 46,560 | 54,371 | ||||||||||||||||||
Add back: Interest factor of operating leases(1) | 2,816,859 | 9,869,024 | 7,732,592 | 3,498,456 | 2,714,998 | 1,011,804 | ||||||||||||||||||
Pre-tax income plus fixed charges | $ | 35,454,069 | $ | 96,735,734 | $ | 65,162,867 | $ | 56,239,181 | $ | 19,489,610 | $ | 4,792,883 | ||||||||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest expense | $ | 1,853 | $ | 156,641 | $ | 44,697 | $ | 160,400 | $ | 46,560 | $ | 54,371 | ||||||||||||
Interest factor of operating leases(1) | 2,816,859 | 9,869,024 | 7,732,592 | 3,498,456 | 2,714,998 | 1,011,804 | ||||||||||||||||||
Total fixed charges | $ | 2,818,712 | $ | 10,025,665 | $ | 7,777,289 | $ | 3,658,856 | $ | 2,761,558 | $ | 1,066,175 | ||||||||||||
Ratio of earnings to fixed charges | 12.6 | 9.6 | 8.4 | 15.4 | 7.1 | 4.5 |
(1) | One third of minimum rental expense is deemed to be representative of interest. |