Exhibit 12.1
COMPUTATION OF EARNINGS TO FIXED CHARGES
| Fiscal Year Ended December 31, | ||||||||||||||||||||
(in millions) | 2015 | 2014 | 2013(1) | 2012 | 2011 | |||||||||||||||
Earnings(2) | $ | 197.3 | $ | 168.6 | $ | 126.1 | $ | 229.2 | $ | 328.4 | ||||||||||
Fixed Charges: | ||||||||||||||||||||
Interest expense and amortization of debt discount and financing cost | 96.1 | 91.9 | 110.8 | 18.8 | 11.9 | |||||||||||||||
Estimate of the interest within the rental expense | 2.6 | 2.3 | 1.8 | 0.4 | 0.5 | |||||||||||||||
Total Fixed Charges | $ | 98.7 | $ | 94.2 | $ | 112.6 | $ | 19.2 | $ | 12.4 | ||||||||||
Earnings Before Fixed Charges | $ | 296.0 | $ | 262.8 | $ | 238.7 | $ | 248.4 | $ | 340.8 | ||||||||||
Ratio of Earnings to Fixed Charges | 3.0x | 2.8x | 2.1x | 12.9x | 27.5x | |||||||||||||||
| (1) | Includes Sealy results of operations from March 18, 2013 through December 31, 2013. Information presented for periods prior to March 18, 2013 do not include Sealy and as a result, the information may not be comparable. Refer to Note 3, “Acquisitions and Divestitures” in our Consolidated Financial Statements included in PART II, ITEM 8 of our Annual Report on Form 10-K for the year ended December 31, 2015, incorporated by reference herein. |
| (2) | Earnings includes income before income taxes adjusted to exclude equity income in earnings of unconsolidated affiliates and include dividends received from unconsolidated affiliates. |