EXHIBIT 12
FOOT LOCKER, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Unaudited)
($ in millions)
Twenty-six weeks | Fiscal year ended | |||||||||||||||||||
August 2, | August 4, | Feb. 2, | Feb. 3, | Jan. 28, | Jan. 29, | Jan. 31, | ||||||||||||||
2008 | 2007 | 2008(1) | 2007 | 2006 | 2005 | 2004 | ||||||||||||||
NET EARNINGS | ||||||||||||||||||||
Income (loss) from continuing operations | $ | 21 | $ | (1 | ) | $ | 45 | $ | 247 | $ | 263 | $ | 255 | $ | 209 | |||||
Income tax expense (benefit) | 22 | (1 | ) | (95 | ) | 145 | 142 | 119 | 115 | |||||||||||
Interest expense, excluding capitalized interest | 9 | 10 | 21 | 23 | 23 | 22 | 26 | |||||||||||||
Portion of rents deemed representative of the | ||||||||||||||||||||
interest factor (1/3) | 114 | 107 | 224 | 214 | 210 | 202 | 177 | |||||||||||||
$ | 166 | $ | 115 | $ | 195 | $ | 629 | $ | 638 | $ | 598 | $ | 527 | |||||||
FIXED CHARGES | ||||||||||||||||||||
Gross interest expense | $ | 9 | 10 | $ | 21 | $ | 23 | $ | 23 | $ | 22 | $ | 26 | |||||||
Portion of rents deemed representative of the | ||||||||||||||||||||
interest factor (1/3) | 114 | 107 | 224 | 214 | 210 | 202 | 177 | |||||||||||||
$ | 123 | 117 | $ | 245 | $ | 237 | $ | 233 | $ | 224 | $ | 203 | ||||||||
RATIO OF EARNINGS TO FIXED CHARGES | 1.4 | 1.0 | 0.8 | 2.7 | 2.7 | 2.7 | 2.6 |
(1) | The results for the year ended February 2, 2008 have been revised to reflect an immaterial correction related to income taxes. The revision has no effect on the fixed charge coverage ratio. |
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