EX-12 4 y53290ex12.txt COMPUTATION OF RATIO OF EARNINGS OF FIXED CHARGES 1 EXHIBIT 12 VENATOR GROUP, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (Unaudited) ($ in millions)
Twenty-six weeks ended Fiscal Year Ended ----------------- --------------------------------------------- Aug. 4, July 29, Feb. 3, Jan 29, Jan. 30, Jan 31, Jan.25, 2001 2000 2001 2000 1999 1998 1997 -------- -------- -------- ------- -------- ------- ------- NET EARNINGS Income from continuing operations $ 36 $ 36 $ 107 $ 59 $ 14 $ 185 $ 185 Income tax expense (benefit) 21 23 69 38 (28) 104 124 Interest expense, excluding capitalized interest 18 21 41 65 57 41 53 Portion of rents deemed representative of the interest factor (1/3) 78 86 155 170 161 146 140 ----- ----- ----- ----- ----- ----- ----- $ 153 $ 166 $ 372 $ 332 $ 204 $ 476 $ 502 ===== ===== ===== ===== ===== ===== ===== FIXED CHARGES Gross interest expense $ 18 $ 22 $ 42 $ 67 $ 64 $ 41 $ 53 Portion of rents deemed representative of the interest factor (1/3) 78 86 155 170 161 146 140 ----- ----- ----- ----- ----- ----- ----- $ 96 $ 108 $ 197 $ 237 $ 225 $ 187 $ 193 ===== ===== ===== ===== ===== ===== ===== RATIO OF EARNINGS TO FIXED CHARGES 1.6 1.5 1.9 1.4 0.9 2.5 2.6
Earnings were not adequate to cover fixed charges by $21 million for the fiscal year ended January 30, 1999.