EX-12 12 a2218479zex-12.htm EX-12

Exhibit 12

 

FIFTH & PACIFIC COMPANIES, INC. AND SUBSIDIARIES

Computation of Ratios of Earnings to Fixed Charges

(In thousands)

 

 

 

Fiscal Years Ended

 

 

 

December 28, 2013

 

December 29, 2012

 

December 31, 2011

 

January 1, 2011

 

January 2, 2010

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

Add:

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations before (benefit) provision for income taxes (1)

 

$

72,068

 

$

(72,771

)

$

130,760

 

$

(72,973

)

$

(243,006

)

Fixed charges

 

48,266

 

53,494

 

59,565

 

56,335

 

59,123

 

(Loss) income from equity investees

 

(1,179

)

(1,245

)

1,652

 

969

 

265

 

Total adjustments

 

119,155

 

(20,522

)

191,977

 

(15,669

)

(183,618

)

 

 

 

 

 

 

 

 

 

 

 

 

Less:

 

 

 

 

 

 

 

 

 

 

 

Noncontrolling interest in pre-tax loss of subsidiaries that have not incurred fixed charges

 

—

 

—

 

—

 

—

 

(38

)

 

 

—

 

—

 

—

 

—

 

(38

)

 

 

 

 

 

 

 

 

 

 

 

 

Total Earnings

 

$

119,155

 

$

(20,522

)

$

191,977

 

$

(15,669

)

$

(183,580

)

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

47,305

 

$

51,860

 

$

57,977

 

$

54,883

 

$

58,015

 

Amortization of expense related to indebtedness (2)

 

961

 

1,634

 

1,588

 

1,452

 

1,108

 

Total Fixed Charges

 

$

48,266

 

$

53,494

 

$

59,565

 

$

56,335

 

$

59,123

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges

 

2.5

 

N/A

 

3.2

 

N/A

 

N/A

 

 

 

 

 

 

 

 

 

 

 

 

 

Deficiency of Earnings to Fixed Charges

 

N/A

 

$

(74,016

)

N/A

 

$

(72,004

)

$

(242,703

)

 

(1) Excludes (loss) income from equity investees.

(2) Represents amortization of financing fees not included in Interest expense.