EX-12.1 5 conns01312017ex121.htm EXHIBIT 12.1 Exhibit


EXHIBIT 12.1
CONN'S, INC. AND SUBSIDIARIES
STATEMENTS OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(dollars in thousands)
 
Year Ended January 31,
 
2017(1)
 
2016
 
2015
 
2014
 
2013
Income (loss) before income taxes
$
(34,517
)
 
$
90,502

 
$
146,519

 
$
82,721

 
$
(3,882
)
Fixed charges
122,701

 
86,195

 
50,245

 
32,076

 
29,037

Capitalized interest
(353
)
 
(660
)
 
(189
)
 
(333
)
 
(360
)
Total earnings
$
87,831

 
$
134,778

 
$
140,558

 
$
178,262

 
$
111,398

Interest expense(2)
$
98,968

 
$
63,767

 
$
29,554

 
$
15,657

 
$
17,407

Estimated interest within rent expense
23,733

 
22,428

 
20,691

 
16,419

 
11,630

Total fixed charges
$
122,701

 
$
86,195

 
$
50,245

 
$
32,076

 
$
29,037

Ratio of earnings to fixed charges
—

 
1.6

 
2.8

 
5.6

 
3.8

(1)
Due to our loss in the year ended January 31, 2017, the ratio coverage was less than 1:1. Additional earnings of $34.9 million would have been required to achieve a ratio of 1:1.
(2)
Includes interest and fees on debt, interest on capital leases (including capitalized interest) and amortization of debt issuance costs.