HSN, Inc. - FORM 10-K - EX-12.1 - COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - February 23, 2011

Attached files

file filename
EX-31.1 - SECTION 302 CEO CERTIFICATION - HSN, Inc.dex311.htm
EX-31.2 - SECTION 302 CFO CERTIFICATION - HSN, Inc.dex312.htm
EX-23.1 - CONSENT OF INDEPENDENT REGISTERED CERTIFIED ACCOUNTING FIRM - HSN, Inc.dex231.htm
EX-32.1 - SECTION 906 CEO CERTIFICATION - HSN, Inc.dex321.htm
EX-21.1 - SUBSIDIARIES OF HSN, INC. - HSN, Inc.dex211.htm
EX-32.2 - SECTION 906 CFO CERTIFICATION - HSN, Inc.dex322.htm
10-K - FORM 10-K - HSN, Inc.d10k.htm

Exhibit 12.1

HSN, Inc.

Computation of Ratio of Earnings to Fixed Charges

 

     Year Ended December 31,  
     2010      2009      2008     2007      2006  
     (unaudited)  
     (In thousands, except ratios)  

Income (loss) from continuing operations before income taxes

    $ 163,603       $ 120,714       $ (3,118,251 )    $ 169,787       $ 212,742   

Fixed charges:

              

Interest expense (a)

      33,085         35,283         16,420        —           —     

Estimated interest portion of rental expense

      8,151         8,283         8,382        9,669         9,471   
                                           

Total fixed charges

      41,236         43,566         24,802        9,669         9,471   

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

      204,839         164,280         (3,093,449 )      179,456         222,213   

Ratio of earnings to fixed charges

      4.97         3.77         (b )      18.56         23.46   

 

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

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