EX-12.1 3 c73589exv12w1.htm EX.12.1 RATIO OF EARNINGS TO FIXED CHARGES Filed by Bowne Pure Compliance
Exhibit 12.1
Computation of Ratio of Earnings to Fixed Charges
(unaudited)
(in thousands, except ratios)
                 
    Thirty-Six Weeks Ended  
    May 3,     May 5,  
    2008     2007  
Earnings
               
Income before income taxes
  $ 625,315     $ 595,871  
Fixed charges
    121,098       114,238  
Less: Capitalized interest
    (2,225 )     (961 )
 
           
Adjusted earnings
  $ 744,188     $ 709,148  
 
           
 
               
Fixed charges
               
Gross interest expense
  $ 85,305     $ 82,662  
Amortization of debt expense
    1,223       1,204  
Interest portion of rent expense
    34,074       30,366  
 
           
Total fixed charges
  $ 120,602     $ 114,232  
 
           
 
               
Ratio of earnings to fixed charges
    6.2       6.2  
 
           
                                         
    Fiscal Year Ended August  
    2007     2006     2005     2004     2003  
    (52 weeks)     (52 weeks)     (52 weeks)     (52 weeks)     (52 weeks)  
Earnings
                                       
Income before income taxes
  $ 936,150     $ 902,036     $ 873,221     $ 905,902     $ 833,007  
Fixed charges
    170,852       156,976       144,930       130,278       121,129  
Less: Capitalized interest
    (1,376 )     (1,985 )     (1,079 )     (813 )     (791 )
 
                             
Adjusted earnings
  $ 1,105,626     $ 1,057,027     $ 1,017,072     $ 1,035,367     $ 953,345  
 
                             
 
                                       
Fixed charges
                                       
Gross interest expense
  $ 121,592     $ 110,568     $ 102,341     $ 89,600     $ 79,301  
Amortization of debt expense
    1,719       1,559       2,343       4,230       7,334  
Interest portion of rent expense
    47,541       44,849       40,246       36,448       34,494  
 
                             
Total fixed charges
  $ 170,852     $ 156,976     $ 144,930     $ 130,278     $ 121,129  
 
                             
 
                                       
Ratio of earnings to fixed charges
    6.5       6.7       7.0       7.9       7.9