EX-12.1 10 hbi-20131228exx121.htm RATIO OF EARNINGS TO FIXED CHARGES HBI-2013.12.28 EX-12.1


Exhibit 12.1
HANESBRANDS INC.
RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in thousands)
(Unaudited)
 
Years Ended
 
December 28,
2013
 
December 29,
2012
 
December 31,
2011
 
January 1,
2011
 
January 2,
2010
Earnings, as defined:
 
 
 
 
 
 
 
 
 
Income from continuing operations before income tax expense, noncontrolling interest and income/loss from equity investees
$
395,866

 
$
263,606

 
$
284,822

 
$
211,304

 
$
51,628

Fixed charges
129,034

 
163,475

 
183,030

 
174,045

 
190,421

Amortization of capitalized interest
2,754

 
2,842

 
3,252

 
3,824

 
3,722

Interest capitalized
(930
)
 
(1,155
)
 
(2,043
)
 
(2,190
)
 
(6,559
)
Noncontrolling interest in pre-tax income

 

 

 
(1,019
)
 
(1,173
)
Total earnings, as defined
$
526,724

 
$
428,768

 
$
469,061

 
$
385,964

 
$
238,039

 
 
 
 
 
 
 
 
 
 
Fixed charges, as defined:
 
 
 
 
 
 
 
 
 
Interest expense
$
97,054

 
$
130,094

 
$
148,759

 
$
139,827

 
$
158,567

Amortized premiums, discounts and capitalized expenses related to indebtedness
6,921

 
9,168

 
10,367

 
12,739

 
10,967

Interest factor in rental expenses
25,059

 
24,213

 
23,904

 
21,479

 
20,887

Total fixed charges, as defined
$
129,034

 
$
163,475

 
$
183,030

 
$
174,045

 
$
190,421

 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
4.08

 
2.62

 
2.56

 
2.22

 
1.25

Note:
The Ratio of Earnings to Fixed Charges should be read in conjunction with our consolidated financial statements and Management's Discussion and Analysis of Financial Condition and Results of Operations incorporated by reference in this Form 10-K. The interest expense included in the fixed charges calculation above excludes interest expense relating to the Company's uncertain tax positions. The interest factor in rental expenses is calculated as one-third of rent expense.