RH (RH) 8-K Entry into a Material Definitive Agreement

Exhibit 12.1

RH

Computation of Ratios of Earnings to Fixed Charges

	For the Three Months Ended		Fiscal Year
(Dollars in thousands)	May 5, 2018		2017		2016		2015		2014		2013
Earnings available for fixed charges:
Income before income taxes	$	36,566	$	30,151	$	8,554	$	149,884	$	148,175	$	49,118
Fixed charges, excluding capitalized interest		22,011		91,138		69,974		59,421		43,675		31,549
Total earnings available for fixed charges	$	58,577	$	121,289	$	78,528	$	209,305	$	191,850	$	80,667
Fixed charges:
Interest and debt expense	$	13,267	$	53,974	$	33,453	$	27,222	$	13,725	$	5,551
Assumed interest element included in rent expense		9,424		39,810		38,441		34,167		31,358		26,790
Total fixed charges	$	22,692	$	93,784	$	71,894	$	61,389	$	45,083	$	32,341
Ratio of earnings to fixed charges		2.6		1.3		1.1		3.4		4.3		2.5

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