Fossil (FOSL) 10-Q 2015 Q1 Quarterly report

Exhibit 12.1

FOSSIL GROUP, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

	13 weeks ended			Fiscal year ended
	April 4, 2015			2014			2013			2012			2011			2010
				(Amounts in dollars, except ratios)
Pre-tax income from continuing operations before adjustment for income or loss from equity investees	$	59,161,905		$	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	(2,568,148		)	(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	4,177,984			15,898,258			9,548,183			5,159,961			2,390,759			1,119,004
Estimate of the interest within rental expense (1)	17,622,720			68,506,714			58,083,173			47,283,331			38,581,611			31,865,555
Total Fixed Charges	21,800,704			84,404,972			67,631,356			52,443,292			40,972,370			32,984,559
Earnings before income taxes and fixed charges	$	78,394,461		$	632,579,136		$	619,202,371		$	535,677,321		$	482,057,563		$	412,235,442
Ratio of Earnings to Fixed Charges	3.60		x	7.49		x	9.16		x	10.21		x	11.77		x	12.50		x

(1)  Interest portion of rental expense represents 35.95% of rental expense, which we deem to be a reasonable approximation of the interest factor.