EX-12.1 5 g11379exv12w1.htm EXHIBIT 12.1 Exhibit 12.1
 

(Exhibit 12.1)
Hanesbrands Inc.
Ratio of Earnings to Fixed Charges
(Dollars in thousands)
(Unaudited)
                                                 
            Six Months        
    Year Ended     Ended     Years Ended  
    December 29,     December 30,     July 1,     July 2,     July 3,     June 28,  
    2007     2006     2006     2005     2004     2003  
Earnings, as defined:
                                               
Income from continuing operations before income tax expense, minority interest and income/loss from equity investees
  $ 185,321     $ 112,830     $ 417,543     $ 343,099     $ 397,512     $ 545,838  
Fixed charges
    223,395       90,168       44,366       52,596       52,743       59,538  
Amortization of capitalized interest
    3,676       2,024       4,227       5,000       6,438       7,990  
Distributed income of equity investees
                      3,030       3,943       4,929  
Interest capitalized
    (2,184 )     (1,904 )     (4,656 )     (1,694 )     (1,353 )     (1,839 )
Minority interest in pre-tax income
    (1,195 )     (910 )     (1,224 )     (55 )     100        
 
                                   
Total earnings, as defined
  $ 409,013     $ 202,208     $ 460,256     $ 401,976     $ 459,383     $ 616,456  
 
                                   
 
                                               
Fixed charges, as defined:
                                               
Interest expense
  $ 201,131     $ 78,692     $ 26,075     $ 35,244     $ 37,411     $ 44,245  
Amortized premiums, discounts and capitalized expenses related to indebtedness
    6,475       2,279                          
Interest factor in rental expenses
    15,789       9,197       18,291       17,352       15,332       15,293  
 
                                   
Total fixed charges, as defined
  $ 223,395     $ 90,168     $ 44,366     $ 52,596     $ 52,743     $ 59,538  
 
                                   
 
                                               
Ratio of earnings to fixed charges
    1.83       2.24       10.37       7.64       8.71       10.35  
     
Note:
  The Ratio of Earnings to Fixed Charges should be read in conjunction with the Consolidated Financial Statements and Management’s Discussion and Analysis of Financial Condition and Results of Operations in this Form 10-K.