Exhibit 12.1
Computation of Ratio of Earnings to Fixed Charges
(unaudited)
(in thousands, except ratios)
(unaudited)
(in thousands, except ratios)
| Twenty-Four Weeks Ended | ||||||||
| February 9, | February 10, | |||||||
| 2008 | 2007 | |||||||
| Earnings | ||||||||
| Income before income taxes | $ | 377,611 | $ | 358,008 | ||||
| Fixed charges | 81,410 | 75,894 | ||||||
| Less: Capitalized interest | (630 | ) | (660 | ) | ||||
| Adjusted earnings | $ | 458,391 | $ | 433,242 | ||||
| Fixed charges | ||||||||
| Gross interest expense | $ | 57,963 | $ | 54,983 | ||||
| Amortization of debt expense | 820 | 810 | ||||||
| Interest portion of rent expense | 22,627 | 20,101 | ||||||
| Total fixed charges | $ | 81,410 | $ | 75,894 | ||||
| Ratio of earnings to fixed charges | 5.6 | 5.7 | ||||||
| Fiscal Year Ended August | ||||||||||||||||||||
| 2007 | 2006 | 2005 | 2004 | 2003 | ||||||||||||||||
| (52 weeks) | (52 weeks) | (52 weeks) | (52 weeks) | (52 weeks) | ||||||||||||||||
| Earnings | ||||||||||||||||||||
| Income before income taxes | $ | 936,150 | $ | 902,036 | $ | 873,221 | $ | 905,902 | $ | 833,007 | ||||||||||
| Fixed charges | 170,852 | 156,976 | 144,930 | 130,278 | 121,129 | |||||||||||||||
| Less: Capitalized interest | (1,376 | ) | (1,985 | ) | (1,079 | ) | (813 | ) | (791 | ) | ||||||||||
| Adjusted earnings | $ | 1,105,626 | $ | 1,057,027 | $ | 1,017,072 | $ | 1,035,367 | $ | 953,345 | ||||||||||
| Fixed charges | ||||||||||||||||||||
| Gross interest expense | $ | 121,592 | $ | 110,568 | $ | 102,341 | $ | 89,600 | $ | 79,301 | ||||||||||
| Amortization of debt expense | 1,719 | 1,559 | 2,343 | 4,230 | 7,334 | |||||||||||||||
| Interest portion of rent expense | 47,541 | 44,849 | 40,246 | 36,448 | 34,494 | |||||||||||||||
| Total fixed charges | $ | 170,852 | $ | 156,976 | $ | 144,930 | $ | 130,278 | $ | 121,129 | ||||||||||
| Ratio of earnings to fixed charges | 6.5 | 6.7 | 7.0 | 7.9 | 7.9 | |||||||||||||||