EX-12.1 19 c94961exv12w1.txt CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES . . . EXHIBIT 12.1 BROWN SHOE COMPANY, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
FISCAL YEARS ENDED ---------------------------------------------------------------------------- HISTORICAL PRO FORMA --------------------------------------------------------------- ----------- FEBRUARY 3, FEBRUARY 2, FEBRUARY 1, JANUARY 31, JANUARY 29, JANUARY 29, 2001 2002 2003 2004 2005 2005 ----------- ----------- ----------- ----------- ----------- ----------- (IN MILLIONS) Earnings (loss) before income taxes $ 51.0 $ (15.3) $ 59.8 $ 63.6 $ 56.3 $ 49.7 Interest expense 18.8 20.2 12.2 9.8 8.4 23.8 Interest portion of rent expense (1) 20.6 22.3 23.4 24.0 24.8 25.5 ------ ------- ------ ------ ------ ------ EARNINGS (LOSS) BEFORE INCOME TAXES AND FIXED CHARGES $ 90.4 $ 27.2 $ 95.4 $ 97.4 $ 89.5 $ 99.0 ====== ======= ====== ====== ====== ====== Interest expense $ 18.8 $ 20.2 $ 12.2 $ 9.8 $ 8.4 $ 23.8 Interest portion of rent expense (1) 20.6 22.3 23.4 24.0 24.8 25.5 ------ ------- ------ ------ ------ ------ TOTAL FIXED CHARGES $ 39.4 $ 42.5 $ 35.6 $ 33.8 $ 33.2 $ 49.3 ====== ======= ====== ====== ====== ====== RATIO OF EARNINGS TO FIXED CHARGES (2) 2.29 N/A 2.68 2.88 2.70 2.01 ====== ======= ====== ====== ====== ======
(1) Calculated as 20% of rent expense, which is a reasonable approximation of the interest factor. (2) Earnings were inadequate to cover fixed charges by $15.3 million for the year ended February 2, 2002.