EX-12 4 ex12.txt
THE PEP BOYS - MANNY, MOE & JACK AND SUBSIDIARIES Exhibit 12 - Statement Regarding Computation of Ratios of Earnings to Fixed Charges (in thousands, except ratios) ---------------------------------------------------------------------------------------------------------------------- February 3, January 29, January 30, Fiscal year 2001 2000 1999 ---------------------------------------------------------------------------------------------------------------------- Interest $ 57,882 $ 51,557 $ 48,930 Interest factor in rental expense 21,069 19,963 19,052 Capitalized interest 489 1,098 1,020 ---------------------------------------------------------------------------------------------------------------------- (a) Fixed charges, as defined $ 79,440 $ 72,618 $ 69,002 Earnings before income taxes $(83,669) $ 44,967 $ 7,284 Fixed charges 79,440 72,618 69,002 Capitalized interest (489) (1,098) (1,020) ---------------------------------------------------------------------------------------------------------------------- (b) Earnings, as defined $ (4,718) $ 116,487 $ 75,266 ---------------------------------------------------------------------------------------------------------------------- (c) Ratio of earnings to fixed charges (b/a) (0.1x) 1.6x 1.1x ---------------------------------------------------------------------------------------------------------------------- (Table Restubbed Below) (in thousands, except ratios) ---------------------------------------------------------------------------------------- January 31, February 1, Fiscal year 1998 1997 ---------------------------------------------------------------------------------------- Interest $ 39,656 $ 30,306 Interest factor in rental expense 16,368 11,205 Capitalized interest 1,861 1,575 ---------------------------------------------------------------------------------------- (a) Fixed charges, as defined $ 57,885 $ 43,086 Earnings before income taxes $ 75,456 $ 159,229 Fixed charges 57,885 43,086 Capitalized interest (1,861) (1,575) ---------------------------------------------------------------------------------------- (b) Earnings, as defined $ 131,480 $ 200,740 ---------------------------------------------------------------------------------------- (c) Ratio of earnings to fixed charges (b/a) 2.3x 4.7x ----------------------------------------------------------------------------------------