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Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
8th grade Good
|
Exhibit No. 12.1
Statements re: Computation of Ratios
$ in millions
|
| Fiscal Year Ended |
| |||||||||||||
|
| Mar. 1, |
| Mar. 3, |
| Feb. 25, |
| Feb. 26, |
| Feb. 28, |
| |||||
Ratio of Earnings to Fixed Charges: |
|
|
|
|
|
|
|
|
|
|
| |||||
Earnings: |
|
|
|
|
|
|
|
|
|
|
| |||||
Net earnings |
| $ | 1,407 |
| $ | 1,377 |
| $ | 1,140 |
| $ | 984 |
| $ | 705 |
|
Discontinued operations, net of tax |
| — |
| — |
| — |
| (50 | ) | 95 |
| |||||
Minority interest in earnings |
| 3 |
| 1 |
| — |
| — |
| — |
| |||||
Equity in loss of affiliates |
| 3 |
| — |
| — |
| — |
| — |
| |||||
Income tax expense |
| 815 |
| 752 |
| 581 |
| 509 |
| 496 |
| |||||
|
|
|
|
|
|
|
|
|
|
|
| |||||
Earnings from continuing operations before income tax expense, minority interest and equity in loss of affiliates |
| 2,228 |
| 2,130 |
| 1,721 |
| 1,443 |
| 1,296 |
| |||||
|
|
|
|
|
|
|
|
|
|
|
| |||||
Fixed Charges: |
|
|
|
|
|
|
|
|
|
|
| |||||
Interest portion of rental expense |
| 222 |
| 198 |
| 165 |
| 150 |
| 140 |
| |||||
Interest expense |
| 62 |
| 31 |
| 30 |
| 44 |
| 32 |
| |||||
|
|
|
|
|
|
|
|
|
|
|
| |||||
Total fixed charges |
| 284 |
| 229 |
| 195 |
| 194 |
| 172 |
| |||||
|
|
|
|
|
|
|
|
|
|
|
| |||||
Less: |
|
|
|
|
|
|
|
|
|
|
| |||||
Capitalized interest |
| — |
| — |
| — |
| — |
| (1 | ) | |||||
|
|
|
|
|
|
|
|
|
|
|
| |||||
Fixed charges in earnings |
| 284 |
| 229 |
| 195 |
| 194 |
| 171 |
| |||||
|
|
|
|
|
|
|
|
|
|
|
| |||||
Earnings available for fixed charges |
| 2,512 |
| 2,359 |
| 1,916 |
| 1,637 |
| 1,467 |
| |||||
|
|
|
|
|
|
|
|
|
|
|
| |||||
Ratio of earnings to fixed charges |
| 8.85 |
| 10.30 |
| 9.81 |
| 8.43 |
| 8.55 |
| |||||
Note: Computation is based on continuing operations