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Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
8th grade Good
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Exhibit No. 12.1
Statements re: Computation of Ratios
($ in millions)
|
| Feb. 25, |
| Feb. 26, |
| Feb. 28, |
| Mar. 1, |
| Mar. 2, |
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Ratio of Earnings to Fixed Charges: |
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Earnings: |
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Net earnings |
| $ | 1,140 |
| $ | 984 |
| $ | 705 |
| $ | 99 |
| $ | 570 |
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Discontinued operations, net of tax |
| — |
| (50 | ) | 95 |
| 441 |
| — |
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Change in accounting principles, net of tax |
| — |
| — |
| — |
| 82 |
| — |
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Income tax expense |
| 581 |
| 509 |
| 496 |
| 392 |
| 356 |
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Earnings from continuing operations before income tax expense |
| 1,721 |
| 1,443 |
| 1,296 |
| 1,014 |
| 926 |
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Fixed Charges: |
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Interest portion of rental expense |
| 165 |
| 150 |
| 140 |
| 132 |
| 110 |
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Interest expense |
| 30 |
| 44 |
| 32 |
| 24 |
| 10 |
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Total fixed charges |
| 195 |
| 194 |
| 172 |
| 156 |
| 120 |
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Less: |
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Capitalized interest |
| — |
| — |
| (1 | ) | (5 | ) | (1 | ) | |||||
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Fixed charges in earnings |
| 195 |
| 194 |
| 171 |
| 151 |
| 119 |
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Earnings available for fixed charges |
| $ | 1,916 |
| $ | 1,637 |
| $ | 1,467 |
| $ | 1,165 |
| $ | 1,045 |
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Ratio of earnings to fixed charges |
| 9.81 |
| 8.43 |
| 8.55 |
| 7.68 |
| 8.83 |
|
Note: Computation is based on continuing operations