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EXHIBIT 12.1
HOME INTERIORS & GIFTS, INC.
Ratio of Earnings to Fixed Charges
Actual for all periods presented
(Dollars in thousands)
Year ended December 31, Six months ended June 30,
----------------------- -------------------------
1993 1994 1995 1996 1997 1997 1998
---- ---- ---- ---- ---- ---- ----
Income before income
taxes 104,891 113,710 84,859 88,403 100,111 44,582 46,759
Less undistributed
equity in earnings -- -- -- -- (180) -- --
of an affiliate
Plus fixed charges 287 92 2 503 362 13 3,491
------- ------- ------ ------ ------- ------ ------
Total 105,178 113,802 84,861 88,906 100,293 44,595 50,250
======= ======= ====== ====== ======= ====== ======
Fixed charges (interest
expense) 287 92 2 503 362 13 3,491
======= ======= ======= ======= ======= ======= =======
Ratio of earnings to
fixed charges N/A N/A N/A N/A N/A N/A 14.4x
======= ======= ======= ======= ======= ======= =======
Note: The ratio of earnings to fixed charges has been omitted for the years
ended December 31, 1993 through 1997 and the six months ended June 30,
1997 because fixed charges were de minimis during these periods.
Ratio of Earnings to Fixed Charges
Pro forma for all periods presented
(Dollars in thousands)
Year ended Six months Latest twelve
December 31, ended months ended
1997 June 30, June 30, 1998
------------- ------------- -------------
1997 1998
---- ----
Income before income
taxes 47,257 18,518 27,004 55,743
Less undistributed equity
in earnings of an
affiliate (180) -- -- (180)
Plus fixed charges 45,231 22,700 25,168 47,699
------ ------ ------ -------
Total 92,308 41,218 52,172 103,262
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Fixed charges (interest
expense) 45,231 22,700 25,168 47,699
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Ratio of earnings to fixed
charges 2.0x 1.8x 2.1x 2.2x
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