EXHIBIT 12.1
MATTEL, INC. AND SUBSIDIARIES
COMPUTATION OF RATIO OF (LOSS) EARNINGS TO FIXED CHARGES
(Unaudited; in thousands, except ratios) | For the Six Months Ended June 30, 2017 | For the Years Ended December 31, | ||||||||||||||||||||||
2016 | 2015 | 2014 | 2013 | 2012 | ||||||||||||||||||||
(Loss) Earnings Available for Fixed Charges: | ||||||||||||||||||||||||
(Loss) income from continuing operations before income taxes | $ | (219,414 | ) | $ | 409,742 | $ | 463,915 | $ | 586,910 | $ | 1,099,128 | $ | 945,045 | |||||||||||
Add: | ||||||||||||||||||||||||
Interest expense | 43,911 | 95,118 | 85,270 | 79,271 | 78,505 | 88,835 | ||||||||||||||||||
Appropriate portion of rents (a) | 21,174 | 36,708 | 38,297 | 40,291 | 37,006 | 33,736 | ||||||||||||||||||
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(Loss) earnings available for fixed charges | $ | (154,329 | ) | $ | 541,568 | $ | 587,482 | $ | 706,472 | $ | 1,214,639 | $ | 1,067,616 | |||||||||||
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Fixed Charges: | ||||||||||||||||||||||||
Interest expense | $ | 43,911 | $ | 95,118 | $ | 85,270 | $ | 79,271 | $ | 78,505 | $ | 88,835 | ||||||||||||
Appropriate portion of rents (a) | 21,174 | 36,708 | 38,297 | 40,291 | 37,006 | 33,736 | ||||||||||||||||||
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Fixed charges | $ | 65,085 | $ | 131,826 | $ | 123,567 | $ | 119,562 | $ | 115,511 | $ | 122,571 | ||||||||||||
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Ratio of (loss) earnings to fixed charges | (b | ) | 4.11 X | 4.75 X | 5.91 X | 10.52 X | 8.71 X | |||||||||||||||||
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(a) | Portion of rental expenses that is deemed representative of an interest factor, which is one-third of total rental expense. |
(b) | Earnings for the six months ended June 30, 2017 were inadequate to cover fixed charges by $219.4 million. |