COMPUTATION OF RATIO OF INCOME TO FIXED CHARGES
SEARS, ROEBUCK AND CO. AND CONSOLIDATED SUBSIDIARIES
Months Ended Jul 1, 2000 | Months Ended Jul 1, 2000 | Year Ended | |||||||||||||||||||||||
(millions, except ratios) | 1999 | 1998 | 1997 | 1996 | 1995 | ||||||||||||||||||||
Fixed Charges | |||||||||||||||||||||||||
Interest and amortization of debt discount and expense on all indebtedness | $1,248 | $ 626 | $1,268 | $1,423 | $1,409 | $1,365 | $1,373 | ||||||||||||||||||
Add interest element implicit in rentals | 132 | 71 | 133 | 144 | 147 | 121 | 119 | ||||||||||||||||||
1,380 | 697 | 1,401 | 1,567 | 1,556 | 1,486 | 1,492 | |||||||||||||||||||
Interest Capitalized | 4 | 2 | 5 | 5 | 3 | 5 | 4 | ||||||||||||||||||
Total fixed charges | $1,384 | $ 699 | $1,406 | $1,572 | $1,559 | $1,491 | $1,496 | ||||||||||||||||||
Income | |||||||||||||||||||||||||
Income from continuing operations | $1,599 | $ 623 | $1,453 | $1,072 | $1,188 | $1,271 | $1,025 | ||||||||||||||||||
Deduct undistributed net income of unconsolidated companies | (3) | 5 | (5) | 11 | 13 | 8 | 9 | ||||||||||||||||||
1,602 | 618 | 1,458 | 1,061 | 1,175 | 1,263 | 1,016 | |||||||||||||||||||
Add | |||||||||||||||||||||||||
Fixed charges (excluding interest capitalized) | 1,380 | 697 | 1,401 | 1,567 | 1,556 | 1,486 | 1,492 | ||||||||||||||||||
Income taxes | 975 | 372 | 904 | 766 | 912 | 834 | 703 | ||||||||||||||||||
Income before fixed charges and income taxes | $3,957 | $1,687 | $3,763 | $3,394 | $3,643 | $3,583 | $3,211 | ||||||||||||||||||
Ratio of income to fixed charges | 2.86 | 2.41 | 2.68 | 2.16 | 2.34 | 2.40 | 2.15 | ||||||||||||||||||