EX-12.1 5 conn01312014ex121.htm EXHIBIT Conn 01.31.2014 EX 12.1


EXHIBIT 12.1

Statement of Computation of Ratio of Earnings to Fixed Charges
(Dollars in thousands)

 
Year Ended January 31,
 
2014
 
2013
 
2012
 
2011
 
2010
Income before income taxes
$
147,157

 
$
82,721

 
$
(3,882
)
 
$
66

 
$
8,623

Fixed charges
32,076

 
29,037

 
34,430

 
40,699

 
34,880

Capitalized interest
(333
)
 
(360
)
 
(21
)
 
(18
)
 
(89
)
Total earnings
$
178,900

 
$
111,398

 
$
30,527

 
$
40,747

 
$
43,414

Interest expense (including capitalized interest)
$
12,522

 
$
13,653

 
$
19,893

 
$
24,553

 
$
20,666

Amortized premiums and expenses
3,135

 
3,754

 
2,586

 
3,546

 
1,414

Estimated interest within rent expense
16,419

 
11,630

 
11,951

 
12,600

 
12,800

Total fixed charges
$
32,076

 
$
29,037

 
$
34,430

 
$
40,699

 
$
34,880

Ratio of earnings to fixed charges (1)
5.6

 
3.8

 
—

 
1.0

 
1.2


(1)
Due to our loss in the fiscal year ended January 31, 2012, the ratio coverage was less than 1:1. Additional earnings of $3.9 million would have been required to achieve a ratio of 1:1. For the fiscal year ended January 31, 2012, we incurred charges of approximately $11.1 million related to the repayment of our term loan that are not included in amortized premiums and expenses above. This amount included a prepayment premium of $4.8 million, write-off of the unamortized original issue discount of $5.4 million and deferred financing costs of $0.9 million.