Exhibit 12

 

Tailored Brands, Inc.

Computation of Ratio of Earnings to Fixed Charges

(In thousands, except ratio data)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fiscal Year Ended(1)

 

 

February 3,

 

January 28,

 

January 30,

 

January 31,

 

February 1,

 

    

2018

    

2017

    

2016

    

2015

    

2014

Earnings (Loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) before income taxes

 

$

134,954

 

$

31,581

 

$

(1,195,761)

 

$

5,376

 

$

126,808

Add:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges

 

 

184,472

 

 

189,436

 

 

194,702

 

 

143,613

 

 

61,244

Adjusted Earnings (Loss)

 

 

319,426

 

 

221,017

 

 

(1,001,059)

 

 

148,989

 

 

188,052

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

 

100,471

 

 

103,149

 

 

105,977

 

 

66,032

 

 

3,205

Portion of rent expense under operating leases deemed to be the equivalent of interest

 

 

84,001

 

 

86,287

 

 

88,725

 

 

77,581

 

 

58,039

Total Fixed Charges

 

 

184,472

 

 

189,436

 

 

194,702

 

 

143,613

 

 

61,244

Ratio of Earnings to Fixed Charges(2) (3)

 

 

1.73

 

 

1.17

 

 

 

 

1.04

 

 

3.07

(1)

All fiscal years for which financial information is included herein had 52 weeks with the exception of the fiscal year ended February 3, 2018 which had 53 weeks.

 

(2)

For purposes of computing the ratio of earnings to fixed charges, earnings consist of earnings before income taxes plus fixed charges.  Fixed charges consists of interest incurred on indebtedness, including amortization of debt expenses including any discount on indebtedness, and the portion of rental expense under operating leases deemed to be the equivalent of interest.

 

(3)

In fiscal 2015, our earnings were insufficient to cover fixed charges by $806.4 million.