Lowe's Companies (LOW) S-3ASR Automatic shelf registration

Exhibit 12.1

	Fiscal Years Ended On															Six Months Ended
	February 1,			January 31,			January 30,			January 28,			February 3,			July 29,			August 4,
	2002			2003			2004			2005			2006			2005			2006
Earnings:
Earnings Before Income Taxes		1,535			2,362			2,908			3,520			4,496			2,317			2,888
Add: Fixed Charges		298			303			303			310			340			163			161
Less: Capitalized Interest		(34	)		(25	)		(26	)		(28	)		(28	)		(10	)		(13	)
Adjusted Earnings		1,799			2,640			3,185			3,802			4,808			2,470			3,036
Fixed Charges:
Interest Expense		232			228			224			220			231			111			105
1/3 Rental Expense		66			75			79			90			109			52			56
Total Fixed Charges		298			303			303			310			340			163			161
Ratio of Earnings to Fixed Charges		6.0			8.7			10.5			12.3			14.1			15.2			18.9