EX-12 29 a2169087zex-12.htm EXHIBIT 12

EXHIBIT 12

Neiman Marcus, Inc.
Computation of Ratio of Earnings to Fixed Charges
(Unaudited)

 
  Seventeen
weeks
ended
January 28,
2006

  Nine
weeks
ended
October 1,
2005

  Twenty-six
weeks
ended
January 29,
2005

  Fiscal Years Ended
 
 
  July 30,
2005

  July 31,
2004

  August 2,
2003

  August 3,
2002(1)

  July 28,
1002

 
 
  (Successor)

  (Predecessor)

  (Predecessor)

 
 
  (in thousands, except ratios)

 
Fixed Charges:                                                  
  Interest on debt   $ 83,069   $ 3,282   $ 11,937   $ 24,036   $ 20,871   $ 18,686   $ 20,832   $ 20,418  
  Amortization of debt discount and expense     4,644     44     124     248     220     254     251     247  
  Interest element of rentals     7,887     3,795     11,220     22,770     20,823     19,041     17,952     19,008  
   
 
 
 
 
 
 
 
 
      Total fixed charges   $ 95,600   $ 7,121   $ 23,281   $ 47,054   $ 41,914   $ 37,981   $ 39,035   $ 39,673  
   
 
 
 
 
 
 
 
 
Earnings:                                                  
  Earnings before income taxes, minority interest and change in accounting principle   $ 24,843   $ 69,208   $ 221,560   $ 399,148   $ 329,313   $ 205,840   $ 162,244   $ 178,440  
  Add back:                                                  
    Fixed charges     95,600     7,121     23,281     47,054     41,914     37,981     39,035     39,673  
    Amortization of capitalized interest     326     105     221     538     424     401     312     258  
  Less:                                                  
    Capitalized interest     (1,489 )   (1,146 )   (1,977 )   (5,350 )   (3,036 )   (1,425 )   (3,116 )   (1,954 )
   
 
 
 
 
 
 
 
 
      Total earnings   $ 119,280   $ 75,288   $ 243,085   $ 441,390   $ 368,615   $ 242,797   $ 198,475   $ 216,417  
   
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges     1.2     10.6     10.4     9.4     8.8     6.4     5.1     5.5  
   
 
 
 
 
 
 
 
 

(1)
2002 includes 53 weeks of operations while the other years presented consist of 52 weeks of operations.