EX-12.1 4 a2223502zex-12_1.htm EX-12.1
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Exhibit 12.1

FOSSIL GROUP, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 
   Fiscal year ended  
 
   2014   2013   2012   2011   2010  
 
   (Amounts in thousands, except ratios)
  

Pre-tax income from continuing operations before adjustment for income or loss from equity investees

   $ 558,078,636   $ 561,467,029   $ 492,222,231   $ 451,559,247   $ 384,209,882  

Equity Adjustments:

    
 		    
 		    
 		    
 		    
 		  

Distributed income of equity investees

     —     —     1,870,000     2,226,000     4,726,000  

Noncontrolling interest in pretax income of subsidiaries that have not incurred fixed charges

     (9,904,472 )   (9,896,015 )   (10,858,201 )   (12,700,055 )   (9,685,000 )

Fixed Charges:

    
 		    
 		    
 		    
 		    
 		  

Interest expensed, amortized premiums, and discounts related to indebtedness

     15,898,258     9,548,183     5,159,961     2,390,759     1,119,004  

Estimate of the interest within rental expense

     68,506,714     58,083,173     47,283,331     38,581,611     31,865,555  
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Total Fixed Charges

     84,404,972     67,631,356     52,443,292     40,972,370     32,984,559  
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Earnings before income taxes and fixed charges

   $ 632,579,136   $ 619,202,371   $ 535,677,321   $ 482,057,563   $ 412,235,442  
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Ratio of Earnings to Fixed Charges

    7.49x     9.16x     10.21x     11.77x     12.50x  
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(1)
Interest portion of rental expense represents 35.95% of rental expense, which we deem to be a reasonable approximation of the interest factor.



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FOSSIL GROUP, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES