EXHIBIT 12.1
UTi WORLDWIDE INC.
RATIO OF EARNINGS TO FIXED CHARGES
(in thousands)
| 2014 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||
| Pre-tax (loss)/income from continuing operations (net of non-controlling interest in net income) |
$ | (29,846 | ) | $ | (42,149 | ) | $ | 114,648 | $ | 107,852 | $ | 69,928 | ||||||||
| Add: Fixed charges computed below |
71,792 | 68,532 | 71,012 | 67,246 | 59,305 | |||||||||||||||
| Minus: Capitalized interest |
(2,252 | ) | (6,908 | ) | (4,156 | ) | (1,935 | ) | (1,379 | ) | ||||||||||
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| Consolidated earnings available for Fixed Charges |
$ | 39,694 | $ | 19,475 | $ | 181,504 | $ | 173,163 | $ | 127,854 | ||||||||||
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| Consolidated Fixed Charges |
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| Interest per financial statements |
$ | 34,165 | $ | 30,486 | $ | 31,908 | $ | 30,557 | $ | 22,942 | ||||||||||
| Portion of rentals (1/3) representing an interest factor |
37,627 | 38,046 | 39,104 | 36,689 | 36,363 | |||||||||||||||
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| Consolidated Fixed Charges |
$ | 71,792 | $ | 68,532 | $ | 71,012 | $ | 67,246 | $ | 59,305 | ||||||||||
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| Consolidated Ratio of Earnings to Fixed Charges(1) |
— | — | 2.6x | 2.6x | 2.2x | |||||||||||||||
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| (1) | UTi’s earnings were insufficient to cover its fixed charges by $32,098 and $49,057 for the fiscal years ended January 31, 2014 and 2013, respectively. |