EX-12 8 l94145aex12.txt EX-12 EXHIBIT 12 JO-ANN STORES, INC. RATIO OF EARNINGS TO FIXED CHARGES
FISCAL YEAR ENDED --------------------------------------------------------------- JANUARY 31, JANUARY 30, JANUARY 29, FEBRUARY 3, FEBRUARY 2, 1998 1999 2000 2001 2002 ----------------------- ----------- ----------- ----------- Earnings: Income (loss) before income taxes $ 50.8 $ 22.0 $ 41.2 $(11.4) $(23.1) Interest Expense 5.9 12.5 26.2 29.0 32.7 Portion of occupancy expense deemed representative of interest(1) 23.5 30.9 34.4 37.0 38.6 ------ ------ ------ ------ ------ Total Earnings $ 80.2 $ 65.4 $101.8 $ 54.6 $ 48.2 ====== ====== ====== ====== ====== Fixed Charges: Interest Expense $ 5.9 $ 12.5 $ 26.2 $ 29.0 $ 32.7 Portion of occupancy expense deemed representative of interest (1) 23.5 30.9 34.4 37.0 38.6 ------ ------ ------ ------ ------ Total Fixed Charges $ 29.4 $ 43.4 $ 60.6 $ 66.0 $ 71.3 ====== ====== ====== ====== ====== Ratio of Earnings to Fixed Charges 2.7x 1.5x 1.7x 0.8x 0.7x ====== ====== ====== ====== ======
(1) Represents 33% of fixed rental charges