Exhibit 12.1
Computation of Ratio of Earnings to Fixed Charges
(Unaudited)
(in thousands, except ratios)
(Unaudited)
(in thousands, except ratios)
| Thirty-Six Weeks Ended | ||||||||
| May 7, | May 8, | |||||||
| 2011 | 2010 | |||||||
Earnings: | ||||||||
| Income before income taxes | $ | 854,049 | $ | 737,192 | ||||
| Fixed charges | 164,752 | 153,812 | ||||||
| Less: Capitalized interest | (532 | ) | (757 | ) | ||||
| Adjusted earnings | $ | 1,018,269 | $ | 890,247 | ||||
Fixed charges: | ||||||||
| Gross interest expense | $ | 112,794 | $ | 107,677 | ||||
| Amortization of debt expense | 6,060 | 4,505 | ||||||
| Interest portion of rent expense | 45,898 | 41,630 | ||||||
| Fixed charges | $ | 164,752 | $ | 153,812 | ||||
| Ratio of earnings to fixed charges | 6.2 | 5.8 | ||||||
| Fiscal Year Ended August | ||||||||||||||||||||
| 2010 | 2009 | 2008 | 2007 | 2006 | ||||||||||||||||
| (52 weeks) | (52 weeks) | (53 weeks) | (52 weeks) | (52 weeks) | ||||||||||||||||
Earnings: | ||||||||||||||||||||
| Income before income taxes | $ | 1,160,505 | $ | 1,033,746 | $ | 1,007,389 | $ | 936,150 | $ | 902,036 | ||||||||||
| Fixed charges | 223,608 | 204,017 | 173,311 | 170,852 | 156,976 | |||||||||||||||
| Less: Capitalized interest | (1,093 | ) | (1,301 | ) | (1,313 | ) | (1,376 | ) | (1,985 | ) | ||||||||||
| Adjusted earnings | $ | 1,383,020 | $ | 1,236,462 | $ | 1,179,387 | $ | 1,105,626 | $ | 1,057,027 | ||||||||||
Fixed charges: | ||||||||||||||||||||
| Gross interest expense | $ | 156,135 | $ | 143,860 | $ | 120,006 | $ | 121,592 | $ | 110,568 | ||||||||||
| Amortization of debt expense | 6,495 | 3,644 | 1,837 | 1,719 | 1,559 | |||||||||||||||
| Interest portion of rent expense | 60,978 | 56,513 | 51,468 | 47,541 | 44,849 | |||||||||||||||
| Fixed charges | $ | 223,608 | $ | 204,017 | $ | 173,311 | $ | 170,852 | $ | 156,976 | ||||||||||
| Ratio of earnings to fixed charges | 6.2 | 6.1 | 6.8 | 6.5 | 6.7 | |||||||||||||||