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FOSSIL GROUP, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
| Fiscal year ended | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2014 | 2013 | 2012 | 2011 | 2010 | |||||||||||
| (Amounts in thousands, except ratios) | |||||||||||||||
Pre-tax income from continuing operations before adjustment for income or loss from equity investees | $ | 558,078,636 | $ | 561,467,029 | $ | 492,222,231 | $ | 451,559,247 | $ | 384,209,882 | ||||||
Equity Adjustments: | ||||||||||||||||
Distributed income of equity investees | — | — | 1,870,000 | 2,226,000 | 4,726,000 | |||||||||||
Noncontrolling interest in pretax income of subsidiaries that have not incurred fixed charges | (9,904,472 | ) | (9,896,015 | ) | (10,858,201 | ) | (12,700,055 | ) | (9,685,000 | ) | ||||||
Fixed Charges: | ||||||||||||||||
Interest expensed, amortized premiums, and discounts related to indebtedness | 15,898,258 | 9,548,183 | 5,159,961 | 2,390,759 | 1,119,004 | |||||||||||
Estimate of the interest within rental expense | 68,506,714 | 58,083,173 | 47,283,331 | 38,581,611 | 31,865,555 | |||||||||||
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Total Fixed Charges | 84,404,972 | 67,631,356 | 52,443,292 | 40,972,370 | 32,984,559 | |||||||||||
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Earnings before income taxes and fixed charges | $ | 632,579,136 | $ | 619,202,371 | $ | 535,677,321 | $ | 482,057,563 | $ | 412,235,442 | ||||||
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Ratio of Earnings to Fixed Charges | 7.49x | 9.16x | 10.21x | 11.77x | 12.50x | |||||||||||
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- (1)
- Interest portion of rental expense represents 35.95% of rental expense, which we deem to be a reasonable approximation of the interest factor.
FOSSIL GROUP, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES