EX-12 3 y66895exv12.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT 12 FOOT LOCKER, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (Unaudited) ($ in millions)
Thirty-nine weeks ended Fiscal Year Ended ------------------ -------------------------------------------------- Nov. 2, Nov. 3, Feb. 2, Feb. 3, Jan. 29, Jan. 30, Jan. 31, 2002 2001 2002 2001 2000 1999 1998 ------- ------- ------- ------- -------- -------- -------- NET EARNINGS Income from continuing operations $114 $ 69 $111 $107 $ 59 $ 14 $185 Income tax expense (benefit) 61 39 64 69 38 (28) 104 Interest expense, excluding capitalized interest 25 27 35 41 65 57 41 Portion of rents deemed representative of the interest factor (1/3) 119 116 158 155 170 161 146 ------- ------- ------- ------- -------- -------- -------- $319 $251 $368 $372 $332 $ 204 $476 ======= ======= ======= ======= ======== ======== ======== FIXED CHARGES Gross interest expense $ 25 $ 27 $ 35 $ 42 $ 67 $ 64 $ 41 Portion of rents deemed representative of the interest factor (1/3) 119 116 158 155 170 161 146 ------- ------- ------- ------- -------- -------- -------- $144 $143 $193 $197 $237 $ 225 $187 ======= ======= ======= ======= ======== ======== ======== RATIO OF EARNINGS TO FIXED CHARGES 2.2 1.8 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.