EX-12.1 6 j4013_ex12d1.htm EX-12.1 Exhibit 12

Exhibit 12.1

 

Ratio of Earnings to Fixed Charges

($ in millions)

 

 

 

Mar. 2,
2002

 

Mar. 3,
2001

 

Feb. 26,
2000

 

Feb. 27,
1999

 

Feb. 28,
1998

 

Ratio of Earnings to Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

Net earnings

 

$

570

 

$

396

 

$

347

 

$

216

 

$

82

 

Income taxes

 

366

 

245

 

216

 

136

 

51

 

 

 

 

 

 

 

 

 

 

 

 

 

Total earnings

 

936

 

641

 

563

 

352

 

133

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

Interest portion of rental expense

 

157

 

90

 

68

 

56

 

49

 

Interest expense

 

20

 

7

 

5

 

21

 

40

 

 

 

 

 

 

 

 

 

 

 

 

 

Total fixed charges

 

177

 

97

 

73

 

77

 

89

 

 

 

 

 

 

 

 

 

 

 

 

 

Less:

 

 

 

 

 

 

 

 

 

 

 

Capitalized interest

 

(1

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges in earnings

 

176

 

97

 

73

 

77

 

89

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings available for fixed charges

 

1,112

 

738

 

636

 

429

 

222

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

6.35

 

7.62

 

8.62

 

5.56

 

2.51