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Exhibit 12
FIFTH & PACIFIC COMPANIES, INC. AND SUBSIDIARIES
Computation of Ratios of Earnings to Fixed Charges
(In thousands)
|
| Fiscal Years Ended |
| |||||||||||||
|
| December 28, 2013 |
| December 29, 2012 |
| December 31, 2011 |
| January 1, 2011 |
| January 2, 2010 |
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Earnings: |
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Add: |
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Income (loss) from continuing operations before (benefit) provision for income taxes (1) |
| $ | 72,068 |
| $ | (72,771 | ) | $ | 130,760 |
| $ | (72,973 | ) | $ | (243,006 | ) |
Fixed charges |
| 48,266 |
| 53,494 |
| 59,565 |
| 56,335 |
| 59,123 |
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(Loss) income from equity investees |
| (1,179 | ) | (1,245 | ) | 1,652 |
| 969 |
| 265 |
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Total adjustments |
| 119,155 |
| (20,522 | ) | 191,977 |
| (15,669 | ) | (183,618 | ) | |||||
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Less: |
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Noncontrolling interest in pre-tax loss of subsidiaries that have not incurred fixed charges |
| — |
| — |
| — |
| — |
| (38 | ) | |||||
|
| — |
| — |
| — |
| — |
| (38 | ) | |||||
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Total Earnings |
| $ | 119,155 |
| $ | (20,522 | ) | $ | 191,977 |
| $ | (15,669 | ) | $ | (183,580 | ) |
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Fixed Charges: |
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Interest expense |
| $ | 47,305 |
| $ | 51,860 |
| $ | 57,977 |
| $ | 54,883 |
| $ | 58,015 |
|
Amortization of expense related to indebtedness (2) |
| 961 |
| 1,634 |
| 1,588 |
| 1,452 |
| 1,108 |
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Total Fixed Charges |
| $ | 48,266 |
| $ | 53,494 |
| $ | 59,565 |
| $ | 56,335 |
| $ | 59,123 |
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Ratio of Earnings to Fixed Charges |
| 2.5 |
| N/A |
| 3.2 |
| N/A |
| N/A |
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Deficiency of Earnings to Fixed Charges |
| N/A |
| $ | (74,016 | ) | N/A |
| $ | (72,004 | ) | $ | (242,703 | ) | ||
(1) Excludes (loss) income from equity investees.
(2) Represents amortization of financing fees not included in Interest expense.