Lowe's Companies (LOW) 10-Q 2012 Q3 Quarterly report

																			Exhibit 12.1
Lowe's Companies, Inc.
Statement Re Computation of Ratio of Earnings to Fixed Charges
In Millions, Except Ratio Data
	Nine Months Ended						Fiscal Years Ended On
	November 2,			October 28,			February 3,			January 28,				January 29,				January 30,				February 2,
	2012			2011			2012			2011				2010				2009				2008
Earnings:
Earnings Before Income Taxes		$	2,682		$	2,421		$	2,906		$	3,228			$	2,825			$	3,506			$	4,511
Fixed Charges			455			385			524			486				468				479				424
Capitalized Interest 1			5			-			-			(4	)			(19	)			(36	)			(65	)
Adjusted Earnings		$	3,142		$	2,806		$	3,430		$	3,710			$	3,274			$	3,949			$	4,870
Fixed Charges:
Interest Expense 2		$	349		$	282		$	385		$	352			$	331			$	346			$	301
Rental Expense 3			106			103			139			134				137				133				123
Total Fixed Charges		$	455		$	385		$	524		$	486			$	468			$	479			$	424
Ratio of Earnings to Fixed Charges			6.9			7.3			6.5			7.6				7.0				8.2				11.5
1 Includes the net of subtractions for interest capitalized and additions for amortization of previously-capitalized interest.
2 Interest accrued on uncertain tax positions is excluded from Interest Expense in the computation of Fixed Charges.
3 The portion of rental expense that is representative of the interest factor in these rentals.