Exhibit 12.1
HANESBRANDS INC.
RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in thousands)
(Unaudited)
| Years Ended | ||||||||||||||||||||
| January 2, | January 3, | December 28, | December 29, | December 31, | ||||||||||||||||
| 2016 | 2015 | 2013 | 2012 | 2011 | ||||||||||||||||
| Earnings, as defined: | ||||||||||||||||||||
| Income from continuing operations | ||||||||||||||||||||
| before income tax expense, | ||||||||||||||||||||
| noncontrolling interest and | ||||||||||||||||||||
| income/loss from equity investees | $ | 474,568 | $ | 464,836 | $ | 395,866 | $ | 263,606 | $ | 284,822 | ||||||||||
| Fixed charges | 156,303 | 129,034 | 129,034 | 163,475 | 183,030 | |||||||||||||||
| Amortization of capitalized interest | 2,758 | 2,719 | 2,754 | 2,842 | 3,252 | |||||||||||||||
| Interest capitalized | (2,566 | ) | (1,355 | ) | (930 | ) | (1,155 | ) | (2,043 | ) | ||||||||||
| Noncontrolling interest in pre-tax | ||||||||||||||||||||
| income | — | — | — | — | — | |||||||||||||||
| Total earnings, as defined | $ | 631,063 | $ | 595,234 | $ | 526,724 | $ | 428,768 | $ | 469,061 | ||||||||||
| Fixed charges, as defined: | ||||||||||||||||||||
| Interest expense | $ | 114,686 | $ | 93,080 | $ | 97,054 | $ | 130,094 | $ | 148,759 | ||||||||||
| Amortized premiums, discounts and | ||||||||||||||||||||
| capitalized expenses related to | ||||||||||||||||||||
| indebtedness | 7,077 | 6,011 | 6,921 | 9,168 | 10,367 | |||||||||||||||
| Interest factor in rental expenses | 34,540 | 29,886 | 25,059 | 24,213 | 23,904 | |||||||||||||||
| Total fixed charges, as defined | $ | 156,303 | $ | 128,977 | $ | 129,034 | $ | 163,475 | $ | 183,030 | ||||||||||
| Ratio of earnings to fixed charges | 4.04 | 4.62 | 4.08 | 2.62 | 2.56 | |||||||||||||||
| Note: | The Ratio of Earnings to Fixed Charges should be read in conjunction with our consolidated financial statements and Management's Discussion and Analysis of Financial Condition and Results of Operations incorporated by reference in this Registration Statement. The interest expense included in the fixed charges calculation above excludes interest expense relating to the Company's uncertain tax positions. The interest factor in rental expenses is calculated as one-third of rent expense. |