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EX-32 - EXHIBIT 32 - LEVI STRAUSS & COlvis11292015ex-32.htm
EX-21 - EXHIBIT 21 - LEVI STRAUSS & COlvis11292015ex-21.htm
EX-31.2 - EXHIBIT 31.2 - LEVI STRAUSS & COlvis11292015ex-312.htm
EX-31.1 - EXHIBIT 31.1 - LEVI STRAUSS & COlvis11292015ex-311.htm
10-K - 10-K - LEVI STRAUSS & COa2015yeform10-k.htm


Exhibit 12
LEVI STRAUSS & CO. AND SUBSIDIARIES
 
 
 
 
Statements re: Computation of Ratio of Earnings to Fixed Charges
 
 
 
 
 
 
 
 
 
 
 
 
 
Year Ended
 
 
November 29, 2015
 
November 30, 2014
 
November 24, 2013
 
November 25, 2012
 
November 27, 2011
 
 
(Dollars in thousands)
 
Earnings:
 
 
 
 
 
 
 
 
 
 
Income before income taxes
$
310,398

 
$
153,854

 
$
322,613

 
$
195,881

 
$
202,827

 
Add: Fixed charges
146,500

 
182,831

 
195,071

 
197,771

 
192,256

 
Add: Amortization of capitalized interest
958

 
1,040

 
876

 
571

 
334

 
Subtract: Capitalized interest
1,121

 
905

 
1,201

 
1,028

 
2,009

 
Total earnings
$
456,735

 
$
336,820

 
$
517,359

 
$
393,195

 
$
393,408

 
Fixed Charges:
 
 
 
 
 
 
 
 
 
 
Interest expense (includes amortization of debt discount and costs)
$
81,214

 
$
117,597

 
$
129,024

 
$
134,694

 
$
132,043

 
Capitalized interest
1,121

 
905

 
1,201

 
1,028

 
2,009

 
Interest factor in rental expense(1)
64,165

 
64,329

 
64,846

 
62,049

 
58,204

 
Total fixed charges
$
146,500

 
$
182,831

 
$
195,071

 
$
197,771

 
$
192,256

 
Ratio of earnings to fixed charges
3.1

x
1.8

x
2.7

x
2.0

x
2.0

x
______________
(1)
Utilized an assumed interest factor of 33% in rental expense.