HSN, Inc. - FORM 10-K - EX-12.1 - COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - March 4, 2010

Attached files

file filename
EX-21.1 - SUBSIDIARIES OF HSN, INC. - HSN, Inc.dex211.htm
EX-31.2 - CHIEF FINANCIAL OFFICER CERTIFICATION PURSUANT TO RULE 13A-14 - HSN, Inc.dex312.htm
EX-32.1 - CERTIFICATION OF CHIEF EXECUTIVE OFFICER PURSUANT TO SECTION 1350 - HSN, Inc.dex321.htm
EX-31.1 - CHIEF EXECUTIVE OFFICER CERTIFICATION PURSUANT TO RULE 13A-14 - HSN, Inc.dex311.htm
EX-10.25 - EXECUTIVE SEVERANCE PLAN - HSN, Inc.dex1025.htm
10-K - FORM 10-K - HSN, Inc.d10k.htm
EX-32.2 - CERTIFICATION OF CHIEF FINANCIAL OFFICER PURSUANT TO SECTION 1350 - HSN, Inc.dex322.htm

Exhibit 12.1

HSN, Inc.

Computation of Ratio of Earnings to Fixed Charges

 

     Year Ended December 31,
     2009    2008     2007    2006    2005
     (unaudited)
     (In thousands, except ratios)

Income (loss) from continuing operations before income taxes

    $ 120,714    $ (3,118,251 )    $ 169,787    $ 212,742    $ 193,387

Fixed charges:

              

Interest expense (a)

      35,283      16,420        —        —        992

Estimated interest portion of rental expense

      8,283      8,382        9,669      9,471      8,283
                                   

Total fixed charges

      43,566      24,802        9,669      9,471      9,275

Income (loss) from continuing operations before income taxes and fixed charges

      164,280      (3,093,449 )      179,456      222,213      202,662

Ratio of earnings to fixed charges

      3.77      (b )      18.56      23.46      21.85

 

Note: The Ratio of Earnings to Fixed Charges should be read in conjunction with the Consolidated Financial Statements and Management’s Discussion and Analysis of Financial Condition and Results of Operations in this Form 10-K.
(a) Includes interest on debt and amortization of debt issuance costs. Excludes interest income and interest associated with unrecognized tax benefit liabilities, which is recorded within income tax expense.
(b) Income for the year ended December 31, 2008 was inadequate to cover fixed charges. Additional income of $3.1 billion would have been necessary to bring the respective ratio to 1.0.

HSN, Inc. Reports