EXHIBIT 12(a) COMPUTATION OF RATIO OF INCOME TO FIXED CHARGES
SEARS, ROEBUCK AND CO. AND CONSOLIDATED SUBSIDIARIES
(millions, except ratios) |
Months Ended Apr 1, 2000 (unaudited) |
Months Ended Apr 1, 2000 (unaudited) |
Year Ended
|
Year Ended
|
Year Ended
|
Year Ended
|
Year Ended
|
|||||||||||||
Fixed Charges | ||||||||||||||||||||
Interest and amortization of debt discount | ||||||||||||||||||||
and expense on all indebtedness |
$1,251
|
$ 316
|
$1,268
|
$1,423
|
$1,409
|
$1,365
|
$1,373
|
|||||||||||||
Add interest element implicit in rentals |
132
|
35
|
133
|
144
|
147
|
121
|
119
|
|||||||||||||
1,383
|
351
|
1,401
|
1,567
|
1,556
|
1,486
|
1,492
|
||||||||||||||
Interest Capitalized |
5
|
-
|
5
|
5
|
3
|
5
|
4
|
|||||||||||||
Total fixed charges |
$1,388
|
$ 351
|
$1,406
|
$1,572
|
$1,559
|
$1,491
|
$1,496
|
|||||||||||||
Income | ||||||||||||||||||||
Income from continuing operations |
$1,542
|
$ 235
|
$1,453
|
$1,072
|
$1,188
|
$1,271
|
$1,025
|
|||||||||||||
Deduct undistributed net income | ||||||||||||||||||||
of unconsolidated companies |
(7)
|
-
|
(5)
|
11
|
13
|
8
|
9
|
|||||||||||||
1,549
|
235
|
1,458
|
1,061
|
1,175
|
1,263
|
1,016
|
||||||||||||||
Add | ||||||||||||||||||||
Fixed charges (excluding interest capitalized) |
1,383
|
351
|
1,401
|
1,567
|
1,556
|
1,486
|
1,492
|
|||||||||||||
Income taxes |
952
|
140
|
904
|
766
|
912
|
834
|
703
|
|||||||||||||
Income before fixed charges and | ||||||||||||||||||||
income taxes |
$ 3,884
|
$ 726
|
$3,763
|
$3,394
|
$3,643
|
$3,583
|
$3,211
|
|||||||||||||
Ratio of income to fixed charges |
2.80
|
2.07
|
2.68
|
2.16
|
2.34
|
2.40
|
2.15
|