EX-12 2 ex12.htm EXHIBIT 12 Unassociated Document
EXHIBIT 12 - STATEMENT  RE: COMPUTATION  OF  RATIO  OF  EARNINGS  TO  FIXED  CHARGES
(UNAUDITED)

 
   
Six Months Ended
    
Fiscal Years Ended
  
(in thousands)
  
August 2,
2008A
    
August 4,
2007
    
February 2,
2008
    
February 3,
2007B
    
January 28,
2006
    
January 29,
2005
    
January 31,
2004
  
                                           
Consolidated pretax income
   $ (60,904 )   $ 18,488     $ 60,518     $ 253,842     $ 125,791     $ 175,832     $ 7,904  
Fixed charges (less capitalized interest)
     55,179       52,395       111,552       106,136       121,416       157,314       202,432  
Distributed income of equity investees
     4,635       343       9,403       9,393       8,858       9,059       5,991  
                                                         
EARNINGS
   $ (1,090 )   $ 71,226     $ 181,473     $ 369,371     $ 256,065     $ 342,205     $ 216,327  
                                                         
                                                         
Interest
   $ 45,139     $ 43,477     $ 91,556     $ 87,642     $ 105,570     $ 139,056     $ 181,065  
Capitalized interest
     1,472       3,149       6,312       4,365       6,092       4,485       2,622  
Interest factor in rent expense
     10,040       8,918       19,996       18,494       15,846       18,258       21,367  
                                                         
FIXED CHARGES
   $ 56,651     $ 55,544     $ 117,864     $ 110,501     $ 127,508     $ 161,799     $ 205,054  
                                                         
                                                         
Ratio of earnings to fixed charges
     (0.02 )     1.28       1.54       3.34       2.01       2.12       1.05  

A The earnings were insufficient to cover fixed charges by approximately $57.7 million.
B 53 weeks