| THE PEP BOYS - MANNY, MOE & JACK AND SUBSIDIARIES | Exhibit 12 - Statement Regarding Computation | ||||||||||||||
| of Ratios of Earnings to Fixed Charges | |||||||||||||||
| (in thousands, except ratios) | |||||||||||||||
| January 28, | January 29, | January 31, | February 1, | February 2, | |||||||||||
| Fiscal year | 2006 | 2005 | 2004 | 2003 | 2002 | ||||||||||
| Interest | $ | 49,040 | $ | 35,965 | $ | 38,255 | $ | 47,237 | $ | 53,709 | |||||
| Interest factor in rental expense | 22,534 | 20,314 | 21,269 | 20,424 | 21,063 | ||||||||||
| Capitalized interest | 867 | 659 | - | 44 | 1 | ||||||||||
| (a) Fixed charges, as defined | $ | 72,441 | $ | 56,938 | $ | 59,524 | $ | 67,705 | $ | 74,773 | |||||
| (Loss) Earnings from continuing operations | |||||||||||||||
| before income taxes and cumulative | |||||||||||||||
| effect of change in accounting principle | $ | (56,326 | ) | $ | 40,645 | $ | (24,337 | ) | $ | 61,267 | $ | 46,321 | |||
| Fixed charges | 72,441 | 56,938 | 59,524 | 67,705 | 74,773 | ||||||||||
| Capitalized interest | (867 | ) | (659 | ) | - | (44 | ) | (1 | ) | ||||||
| (b) Earnings, as defined | $ | 15,248 | $ | 96,924 | $ | 35,187 | $ | 128,928 | $ | 121,093 | |||||
| (c) Ratio of earnings to fixed charges (b÷a) | - | 1.7x | - | 1.9x | 1.6x | ||||||||||
The ratio ofearnings to fixedcharges iscompleted bydividingearnings by fixedcharges."Earnings" consist ofearnings before income taxes plus fixedcharges(exclusive ofcapitalized interest costs) plus one-third of rentalexpense (which amount isconsideredrepresentative of the interest factor in rentalexpense).Earnings, asdefined, were notsufficient to cover fixedcharges byapproximately $57.2 and $24.2 million for fiscal years endedJanuary 28, 2006 andJanuary 31, 2004,respectively.