Exhibit 12
FOOT LOCKER, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Unaudited)
($ in millions)
Fiscal Year Ended | |||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jan. 31, 2004 | Feb. 1, 2003 | Feb. 2, 2002 | Feb. 3, 2001 | Jan. 29, 2000 | |||||||||||||||||||
NET EARNINGS | |||||||||||||||||||||||
Income from continuing operations | $ | 209 | $ | 162 | $ | 111 | $ | 107 | $ | 59 | |||||||||||||
Income tax expense (benefit) | 115 | 84 | 64 | 69 | 38 | ||||||||||||||||||
Interest expense, excluding capitalized interest | 26 | 33 | 35 | 41 | 65 | ||||||||||||||||||
Portion of rents deemed representative of the interest factor (1/3) | 179 | 165 | 158 | 155 | 170 | ||||||||||||||||||
$ | 529 | $ | 444 | $ | 368 | $ | 372 | $ | 332 | ||||||||||||||
FIXED CHARGES | |||||||||||||||||||||||
Gross interest expense | $ | 26 | $ | 33 | $ | 35 | $ | 42 | $ | 67 | |||||||||||||
Portion of rents deemed representative of the interest factor (1/3) | 179 | 165 | 158 | 155 | 170 | ||||||||||||||||||
$ | 205 | $ | 198 | $ | 193 | $ | 197 | $ | 237 | ||||||||||||||
RATIO OF EARNINGS TO FIXED CHARGES | 2.6 | 2.2 | 1.9 | 1.9 | 1.4 |