EX-12.1 2 rl-20170401x10kex121.htm EXHIBIT 12.1
EXHIBIT 12.1
RALPH LAUREN CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

|  | Fiscal Years Ended(a)
|  | April 1, 2017 |  | April 2, 2016 |  | March 28, 2015 |  | March 29, 2014 |  | March 30, 2013
|  | (millions)
Earnings, as defined: |  |  |  |  |  |  |  |  |  |
Income (loss) before income taxes |  | $ | (104.9 | ) |  | $ | 551.8 |  |  | $ | 987.4 |  |  | $ | 1,095.8 |  |  | $ | 1,089.3 |
Add: |  |  |  |  |  |  |  |  |  |
Equity in losses of equity-method investees |  | 5.2 |  |  | 10.9 |  |  | 11.5 |  |  | 9.4 |  |  | 9.5 |
Fixed charges |  | 165.9 |  |  | 178.4 |  |  | 172.0 |  |  | 170.2 |  |  | 162.3 |
Subtract: |  |  |  |  |  |  |  |  |  |
Income attributable to noncontrolling interests |  | — |  |  | — |  |  | — |  |  | — |  |  | 0.7 |
Earnings available to cover fixed charges |  | $ | 66.2 |  |  | $ | 741.1 |  |  | $ | 1,170.9 |  |  | $ | 1,275.4 |  |  | $ | 1,260.4 |
Fixed Charges: |  |  |  |  |  |  |  |  |  |
Interest expense |  | $ | 12.4 |  |  | $ | 21.0 |  |  | $ | 16.7 |  |  | $ | 18.7 |  |  | $ | 19.1 |
Interest component of rent expense |  | 153.5 |  |  | 157.4 |  |  | 155.3 |  |  | 151.5 |  |  | 143.2 |
Total fixed charges |  | $ | 165.9 |  |  | $ | 178.4 |  |  | $ | 172.0 |  |  | $ | 170.2 |  |  | $ | 162.3 |
Ratio of earnings to fixed charges(b) |  | 0.4 |  |  | 4.2 |  |  | 6.8 |  |  | 7.5 |  |  | 7.8 |

(a) | Fiscal 2016 consisted of 53 weeks. All other fiscal years presented consisted of 52 weeks.

(b) | All ratios shown in the above table have been calculated using unrounded numbers.