EXHIBIT 12 - STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(UNAUDITED)
Six Months Ended | Fiscal Years Ended | |||||||||||||||||||||||||||
(in thousands) | August 2, 2008A | August 4, 2007 | February 2, 2008 | February 3, 2007B | January 28, 2006 | January 29, 2005 | January 31, 2004 | |||||||||||||||||||||
Consolidated pretax income | $ | (60,904 | ) | $ | 18,488 | $ | 60,518 | $ | 253,842 | $ | 125,791 | $ | 175,832 | $ | 7,904 | |||||||||||||
Fixed charges (less capitalized interest) | 55,179 | 52,395 | 111,552 | 106,136 | 121,416 | 157,314 | 202,432 | |||||||||||||||||||||
Distributed income of equity investees | 4,635 | 343 | 9,403 | 9,393 | 8,858 | 9,059 | 5,991 | |||||||||||||||||||||
EARNINGS | $ | (1,090 | ) | $ | 71,226 | $ | 181,473 | $ | 369,371 | $ | 256,065 | $ | 342,205 | $ | 216,327 | |||||||||||||
Interest | $ | 45,139 | $ | 43,477 | $ | 91,556 | $ | 87,642 | $ | 105,570 | $ | 139,056 | $ | 181,065 | ||||||||||||||
Capitalized interest | 1,472 | 3,149 | 6,312 | 4,365 | 6,092 | 4,485 | 2,622 | |||||||||||||||||||||
Interest factor in rent expense | 10,040 | 8,918 | 19,996 | 18,494 | 15,846 | 18,258 | 21,367 | |||||||||||||||||||||
FIXED CHARGES | $ | 56,651 | $ | 55,544 | $ | 117,864 | $ | 110,501 | $ | 127,508 | $ | 161,799 | $ | 205,054 | ||||||||||||||
Ratio of earnings to fixed charges | (0.02 | ) | 1.28 | 1.54 | 3.34 | 2.01 | 2.12 | 1.05 |
A The earnings were insufficient to cover fixed charges by approximately $57.7 million.
B 53 weeks