EX-12 4 y61553exv12.txt COMPUTATIONS OF RATIO EXHIBIT 12 FOOT LOCKER, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (Unaudited) ($ in millions)
Thirteen weeks ended Fiscal Year Ended ------------------- ----------------------------------------------- May 4, May 5, Feb. 2, Feb. 3, Jan. 29, Jan. 30, Jan. 31, 2002 2001 2002 2001 2000 1999 1998 ----- ----- ----- ----- ----- ----- ----- NET EARNINGS Income from continuing operations $ 38 $ 32 $ 111 $ 107 $ 59 $ 14 $ 185 Income tax expense (benefit) 19 21 64 69 38 (28) 104 Interest expense, excluding capitalized interest 8 8 35 41 65 57 41 Portion of rents deemed representative of the interest factor (1/3) 40 39 158 155 170 161 146 ----- ----- ----- ----- ----- ----- ----- $ 105 $ 100 $ 368 $ 372 $ 332 $ 204 $ 476 ===== ===== ===== ===== ===== ===== ===== FIXED CHARGES Gross interest expense $ 8 $ 8 $ 35 $ 42 $ 67 $ 64 $ 41 Portion of rents deemed representative of the interest factor (1/3) 40 39 158 155 170 161 146 ----- ----- ----- ----- ----- ----- ----- $ 48 $ 47 $ 193 $ 197 $ 237 $ 225 $ 187 ===== ===== ===== ===== ===== ===== ===== RATIO OF EARNINGS TO FIXED CHARGES 2.2 2.1 1.9 1.9 1.4 0.9 2.5
Earnings were not adequate to cover fixed charges by $21 million for the fiscal year ended January 30, 1999.