EX-12.1 4 rl-20160402x10kex121.htm EXHIBIT 12.1 SEC Exhibit


EXHIBIT 12.1
RALPH LAUREN CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES


 
 
Fiscal Years Ended(a)
 
 
April 2, 2016
 
March 28, 2015
 
March 29, 2014
 
March 30, 2013
 
March 31,
2012
 
 
(millions)
Earnings, as defined:
 
 
 
 
 
 
 
 
 
 
  Income before provision for income taxes
 
$
552

 
$
987

 
$
1,096

 
$
1,089

 
$
1,015

    Add:
 
 
 
 
 
 
 
 
 
 
       Equity in losses of equity-method investees
 
11

 
11

 
9

 
10

 
9

       Fixed charges
 
178

 
172

 
170

 
162

 
164

    Subtract:
 
 
 
 
 
 
 
 
 
 
       Income attributable to noncontrolling interests
 
—

 
—

 
—

 
1

 
—

Earnings available to cover fixed charges
 
$
741

 
$
1,170

 
$
1,275

 
$
1,260

 
$
1,188

 
 
 
 
 
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
 
 
 
 
 
  Interest expense
 
$
21

 
$
17

 
$
19

 
$
19

 
$
22

  Interest component of rent expense
 
157

 
155

 
151

 
143

 
142

Total fixed charges
 
$
178

 
$
172

 
$
170

 
$
162

 
$
164

 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges(b)
 
4.2

 
6.8

 
7.5

 
7.8

 
7.3

 
(a)
Fiscal 2016 consisted of 53 weeks. All other fiscal years presented consisted of 52 weeks.
(b) 
All ratios shown in the above table have been calculated using unrounded numbers.