EX-12 3 y87501exv12.txt COMPUTATION OF RATIO OF EARNINGS EXHIBIT 12 FOOT LOCKER, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (Unaudited) ($ in millions)
Thirteen weeks ended Fiscal Year Ended -------------------- ------------------------------------------------------ May 3, May 4, Feb. 1, Feb. 2, Feb. 3, Jan. 29, Jan. 30, 2003 2002 2003 2002 2001 2000 1999 ---- ---- ---- ---- ---- ---- ---- NET EARNINGS Income from continuing operations $ 39 $ 38 $ 162 $ 111 $ 107 $ 59 $ 14 Income tax expense (benefit) 23 19 84 64 69 38 (28) Interest expense, excluding capitalized interest 7 8 33 35 41 65 57 Portion of rents deemed representative of the interest factor (1/3) 41 40 165 158 155 170 161 -------- -------- -------- ------- -------- --------- ------- $ 110 $ 105 $ 444 $ 368 $ 372 $ 332 $ 204 ======== ======== ======== ======= ======== ========= ======= FIXED CHARGES Gross interest expense $ 7 $ 8 $ 33 $ 35 $ 42 $ 67 $ 64 Portion of rents deemed representative of the interest factor (1/3) 41 40 165 158 155 170 161 -------- -------- -------- ------- -------- --------- ------- $ 48 $ 48 $ 198 $ 193 $ 197 $ 237 $ 225 ======== ======== ======== ======= ======== ========= ======= RATIO OF EARNINGS TO FIXED CHARGES 2.3 2.2 2.2 1.9 1.9 1.4 0.9
Earnings were not adequate to cover fixed charges by $21 million for the fiscal year ended January 30, 1999.