Exhibit 12
STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES | ||||||||||||||||||||||||||||
(UNAUDITED) | ||||||||||||||||||||||||||||
Three Months Ended | Fiscal Years Ended | |||||||||||||||||||||||||||
May 2, | May 3, | January 31, | February 2, | February 3, | January 28, | January 29, | ||||||||||||||||||||||
(in thousands) | 2009 | 2008 | 2009A | 2008 | 2007B | 2006 | 2005 | |||||||||||||||||||||
Consolidated income (loss) before taxes and equity in (losses) earnings of joint ventures | $ | 13,069 | $ | 3,684 | $ | (380,005 | ) | $ | 60,518 | $ | 253,842 | $ | 125,791 | $ | 175,832 | |||||||||||||
Fixed charges (less capitalized interest) | 25,117 | 27,339 | 109,315 | 111,552 | 106,136 | 121,416 | 157,314 | |||||||||||||||||||||
Distributed income of equity investees | 700 | 1,162 | 8,167 | 9,403 | 9,393 | 8,858 | 9,059 | |||||||||||||||||||||
EARNINGS (LOSSES) | $ | 38,886 | $ | 32,185 | $ | (262,523 | ) | $ | 181,473 | $ | 369,371 | $ | 256,065 | $ | 342,205 | |||||||||||||
Interest | $ | 20,283 | $ | 22,113 | $ | 88,821 | $ | 91,556 | $ | 87,642 | $ | 105,570 | $ | 139,056 | ||||||||||||||
Capitalized interest | 40 | 812 | 2,645 | 6,312 | 4,365 | 6,092 | 4,485 | |||||||||||||||||||||
Interest factor in rent expense | 4,834 | 5,226 | 20,494 | 19,996 | 18,494 | 15,846 | 18,258 | |||||||||||||||||||||
FIXED CHARGES | $ | 25,157 | $ | 28,151 | $ | 111,960 | $ | 117,864 | $ | 110,501 | $ | 127,508 | $ | 161,799 | ||||||||||||||
Ratio of earnings (losses) to fixed charges | 1.55 | 1.14 | (2.34 | ) | 1.54 | 3.34 | 2.01 | 2.12 |
A The earnings were insufficient to cover fixed charges by approximately $374.5 million.
B 53 weeks