EX-12 7 ex1210k6272015.htm EXHIBIT 12 EX 12 10K 6.27.2015


Coach, Inc.
 
 
 
 
Exhibit 12
Computation of Ratio of Earnings to Fixed Charges
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year Ended
 
 
June 27, 2015
June 28, 2014
June 29, 2013
June 30, 2012
July 2, 2011
 
 
(in millions)
Determination of Earnings:
 
 
 
 
 
 
Income before provision for income taxes and loss from equity investees
$
611.6

$
1,122.3

$
1,526.9

$
1,512.7

$
1,305.9

 
Plus: Fixed charges
130.8

107.4

95.5

87.7

70.8

 
Earnings available to cover fixed charges
$
742.4

$
1,229.7

$
1,622.4

$
1,600.4

$
1,376.7

 
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
 
Interest expense (none capitalized)
$
11.9

$
1.7

$
1.4

$
5.0

$
1.8

 
Interest portion of rent expense (1/3)
118.9

105.7

94.1

82.7

69.0

 
Total fixed charges
$
130.8

$
107.4

$
95.5

$
87.7

$
70.8

 
 
 
 
 
 
 
Ratio of earnings to fixed charges(1)
5.7

11.4

17.0

18.2

19.4

 
 
 
 
 
 
 
(1) All ratios shown in the above table have been calculated using unrounded numbers.