EX-12.1 4 a2216809zex-12_1.htm EX-12.1

Exhibit 12.1

 

HD SUPPLY, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in millions)

 

 

 

 

 

Fiscal Year Ended

 

 

 

Six
Months
Ended
August 4,
2013

 

February 3,
2013

 

January 29,
2012

 

January 30,
2011

 

January 31,
2010

 

February 1,
2009

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations before provision (benefit) for income taxes and discontinued operations

 

$

(148

)

$

(1,196

)

$

(484

)

$

(585

)

$

(678

)

$

(1,477

)

Add:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

291

 

658

 

639

 

623

 

602

 

644

 

Portion of rental expense under operating leases deemed to be the equivalent of interest

 

24

 

44

 

48

 

49

 

52

 

55

 

Adjusted earnings

 

$

167

 

$

(494

)

$

203

 

$

87

 

$

(24

)

$

(778

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

291

 

$

658

 

$

639

 

$

623

 

$

602

 

$

644

 

Portion of rental expense under operating leases deemed to be the equivalent of interest

 

24

 

44

 

48

 

49

 

52

 

55

 

Total fixed charges

 

$

315

 

$

702

 

$

687

 

$

672

 

$

654

 

$

699

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges(1) (2)

 

 

 

 

 

 

 

 

 

 

 

 

 

 


(1)   For the purposes of calculating the ratio of earnings to fixed charges, earnings consist of income from continuing operations before provision for income taxes plus fixed charges.  Fixed charges include cash and non-cash interest expense, whether expensed or capitalized, amortization of debt issuance cost, and the portion of rental expense representative of the interest factor.

(2)   For the six months ended August 4, 2013 and the fiscal years ended February 3, 2013, January 29, 2012, January 30, 2011, January 31, 2010 and February 1, 2009, our earnings were insufficient to cover fixed charges by $148 million, $1,196 million, $484 million, $585 million, $678 million and $1,477 million, respectively.