Exhibit 12.1
THE WARNACO GROUP, INC.
Computation of Ratio of Earnings to Fixed Charges
Pro Forma
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Combined
Last
Twelve
Months
Fiscal Fiscal Ended
------------------------------------------------------------- Year April 5,
1998 1999 2000 2001 2002 2002 2003
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Fixed charges:
Interest expense $ 63.8 $ 81.0 $ 172.2 $ 122.8 $ 22.0 $ 31.7 $ 31.1
Interest on operating leases 31.3 53.8 59.3 45.2 27.6 27.3 24.3
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Total fixed charges $ 95.1 $ 134.8 $ 231.5 $ 168.0 $ 49.6 $ 59.0 $ 55.4
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Pre-tax income (loss) from continuing
operations $ 21.8 $ 124.4 $ (355.8) $ (710.2) $ (109.3) $ 51.0 $ 85.0
Add: Fixed charges 95.1 134.8 231.5 168.0 49.6 59.0 55.4
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Total earnings (as defined) $ 116.9 $ 259.2 $ (124.3) $ (542.2) $ (59.7) $ 110.0 $ 140.4
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Ratio of Earnings to Fixed Charges(1) 1.23 1.92 n/a n/a n/a 1.87 2.54
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Deficit of Earnings to Fixed Charges(1) n/a n/a $ 355.8 $ 710.2 $ 109.3 n/a n/a
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(1) For the purposes of computing the ratio of earnings to fixed charges,
earnings are defined as income from continuing operations before income
taxes, plus fixed charges and less capitaized interest. Fixed charges are
defined as the sum of interest expense, including the amortization of
deferred financing costs, capitalized interest, and that portion of rental
expense which we believe to be represetative of an interest factor. The
deficit of earnings to fixed charges represents the amount of earnings that
would be required to increase the ratio of earnings to fixed charges to
1.00 in those cases where earnings are less than the total fixed charges.