Exhibit 12.1
GAMESTOP CORP.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Fiscal Year | Fiscal Year | Fiscal Year | Fiscal Year | Fiscal Year | ||||||||||||||||
Ended | Ended | Ended | Ended | Ended | ||||||||||||||||
February 3, | January 28, | January 29, | January 31, | February 1, | ||||||||||||||||
2007 | 2006 | 2005 | 2004 | 2003 | ||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||
Earnings: | ||||||||||||||||||||
Earnings before income taxes | $ | 254,296 | $ | 159,922 | $ | 98,911 | $ | 105,188 | $ | 87,701 | ||||||||||
Fixed charges | 148,215 | 65,864 | 23,565 | 16,932 | 14,616 | |||||||||||||||
Adjusted earnings | $ | 402,511 | $ | 225,786 | $ | 122,476 | $ | 122,120 | $ | 102,317 | ||||||||||
Ratio of earning to fixed charges | 2.7 | 3.4 | 5.2 | 7.2 | 7.0 | |||||||||||||||
Fixed Charges: | ||||||||||||||||||||
Interest expense | $ | 83,722 | $ | 30,111 | $ | 2,155 | $ | 663 | $ | 1,368 | ||||||||||
Amortization of issue discount | 940 | 316 | — | — | — | |||||||||||||||
Interest portion of net rental expense(1) | 63,553 | 35,437 | 21,410 | 16,269 | 13,248 | |||||||||||||||
Total fixed charges | $ | 148,215 | $ | 65,864 | $ | 23,565 | $ | 16,932 | $ | 14,616 | ||||||||||
(1) | The interest portion of net rental expense is estimated to be equal to 28% of the minimum rental expense for the period. |