Exhibit 12 | ||||||||||||||
COMPUTATION OF RATIO OF INCOME TO COMBINED FIXED CHARGES | ||||||||||||||
SEARS, ROEBUCK AND CO. AND CONSOLIDATED SUBSIDIARIES | ||||||||||||||
Twelve | Three | |||||||||||||
Months | Months | Year Ended | ||||||||||||
Ended | Ended | |||||||||||||
3/31/01 | 3/31/01 | |||||||||||||
(millions, except ratios) | (unaudited) | (unaudited) | 2000 | 1999 | 1998 | 1997 | 1996 | |||||||
Fixed Charges | ||||||||||||||
Interest and amortization of debt discount and expense on all | ||||||||||||||
indebtedness | $1,244 | $312 | $1,248 | $1,268 | $1,423 | $1,409 | $1,365 | |||||||
Add interest element implicit in rentals | 140 | 39 | 136 | 133 | 144 | 147 | 121 | |||||||
1,384 | 351 | 1,384 | 1,401 | 1,567 | 1,556 | 1,486 | ||||||||
Interest capitalized | 6 | 2 | 4 | 5 | 5 | 3 | 5 | |||||||
Total fixed charges | $1,390 | $353 | $1,388 | $1,406 | $1,572 | $1,559 | $1,491 | |||||||
Income | ||||||||||||||
Income from continuing operations | $1,284 | $176 | $1,343 | $1,453 | $1,072 | $1,188 | $1,271 | |||||||
Deduct undistributed net income | ||||||||||||||
(loss) of unconsolidated companies | 17 | 0 | 17 | (5) | 11 | 13 | 8 | |||||||
1,267 | 176 | 1,326 | 1,458 | 1,061 | 1,175 | 1,263 | ||||||||
Add | ||||||||||||||
Fixed charges (excluding interest capitalized) | 1,384 | 351 | 1,384 | 1,401 | 1,567 | 1,556 | 1,486 | |||||||
Income taxes | 789 | 98 | 831 | 904 | 766 | 912 | 834 | |||||||
Income before fixed charges and | ||||||||||||||
income taxes | $3,440 | $625 | $3,541 | $3,763 | $3,394 | $3,643 | $3,583 | |||||||
Ratio of income to fixed charges | 2.47 | 1.77 | 2.55 | 2.68 | 2.16 | 2.34 | 2.40 |
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10-Q Filing
Sears Roebuck & Co Inactive 10-Q2002 Q1 Quarterly report
Filed: 11 May 01, 12:00am