EXHIBIT 12
Neiman Marcus, Inc.
Computation of Ratio of Earnings to Fixed Charges
(Unaudited)
| Seventeen weeks ended January 28, 2006 | Nine weeks ended October 1, 2005 | Twenty-six weeks ended January 29, 2005 | Fiscal Years Ended | ||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| July 30, 2005 | July 31, 2004 | August 2, 2003 | August 3, 2002(1) | July 28, 1002 | |||||||||||||||||||||||
| (Successor) | (Predecessor) | (Predecessor) | |||||||||||||||||||||||||
| (in thousands, except ratios) | |||||||||||||||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||||||
Interest on debt | $ | 83,069 | $ | 3,282 | $ | 11,937 | $ | 24,036 | $ | 20,871 | $ | 18,686 | $ | 20,832 | $ | 20,418 | ||||||||||||
Amortization of debt discount and expense | 4,644 | 44 | 124 | 248 | 220 | 254 | 251 | 247 | ||||||||||||||||||||
Interest element of rentals | 7,887 | 3,795 | 11,220 | 22,770 | 20,823 | 19,041 | 17,952 | 19,008 | ||||||||||||||||||||
Total fixed charges | $ | 95,600 | $ | 7,121 | $ | 23,281 | $ | 47,054 | $ | 41,914 | $ | 37,981 | $ | 39,035 | $ | 39,673 | ||||||||||||
Earnings: | ||||||||||||||||||||||||||||
Earnings before income taxes, minority interest and change in accounting principle | $ | 24,843 | $ | 69,208 | $ | 221,560 | $ | 399,148 | $ | 329,313 | $ | 205,840 | $ | 162,244 | $ | 178,440 | ||||||||||||
Add back: | ||||||||||||||||||||||||||||
Fixed charges | 95,600 | 7,121 | 23,281 | 47,054 | 41,914 | 37,981 | 39,035 | 39,673 | ||||||||||||||||||||
Amortization of capitalized interest | 326 | 105 | 221 | 538 | 424 | 401 | 312 | 258 | ||||||||||||||||||||
Less: | ||||||||||||||||||||||||||||
Capitalized interest | (1,489 | ) | (1,146 | ) | (1,977 | ) | (5,350 | ) | (3,036 | ) | (1,425 | ) | (3,116 | ) | (1,954 | ) | ||||||||||||
Total earnings | $ | 119,280 | $ | 75,288 | $ | 243,085 | $ | 441,390 | $ | 368,615 | $ | 242,797 | $ | 198,475 | $ | 216,417 | ||||||||||||
Ratio of earnings to fixed charges | 1.2 | 10.6 | 10.4 | 9.4 | 8.8 | 6.4 | 5.1 | 5.5 | ||||||||||||||||||||
- (1)
- 2002 includes 53 weeks of operations while the other years presented consist of 52 weeks of operations.