EXHIBIT
TANDY CORPORATION
STATEMENT OF COMPUTATION OF EARNINGS PER SHARE
<CAPTIONS>
(In thousands, except ratios)
Three Months Ended Six Months Ended
June 30, June 30,
----------------------- -----------------------
1994 1993 1994 1993
--------- --------- --------- ---------
PRIMARY EARNINGS PER SHARE
Reconciliation of net income (loss) per statements
of income to amounts used in computation of
primary earnings earnings per share:
Net income (loss), as reported $ 34,415 $ (77,336) $ 76,210 $ (42,191)
Less dividends on preferred stock:
Series B (1,607) (1,782) (3,413) (3,614)
Series C (8,025) (8,025) (16,050) (16,050)
--------- --------- --------- ---------
Net income (loss) available to common stockholders 24,783 (87,143) 56,747 (61,855)
Plus dividends on Series C preferred stock 8,025 8,025 16,050 16,050
--------- --------- --------- ---------
Net income (loss) for primary earnings per share $ 32,808 $ (79,118) $ 72,797 $ (45,805)
========= ========= ========= =========
Weighted average number of common shares outstanding 63,442 63,571 63,547 63,419
Weighted average number of $2.14 depositary shares,
representing Series C preferred stock, treated as
outstanding common stock due to mandatory conversion 15,000 15,000 15,000 15,000
Weighted average number of common shares issuable
under stock option plans, net of assumed treasury
stock repurchases at average market prices 159 (b) 249 (b)
--------- --------- --------- ---------
Weighted average number of common and common
equivalent shares outstanding 78,601 78,571 78,796 78,419
========= ========= ========= =========
Net income (loss) per average common and common
equivalent share $ 0.42 $ (1.01) $ 0.92 $ (0.58)
========= ========= ========= =========
FULLY DILUTED EARNINGS PER SHARE (a)
Reconciliation of net income (loss) per statements
of income to amounts used in computation of fully
diluted earnings per share:
Net income (loss) available to common stockholders $ 24,783 $ (87,143) $ 56,747 $ (61,855)
Plus dividends on Series C preferred stock 8,025 8,025 16,050 16,050
Adjustments for assumed conversion of Series B
preferred stock to common stock as of the
later of the beginning of the period or the
date of issuance, August 1, 1990:
Plus dividends on Series B preferred stock,
net of tax on allocated shares 1,607 (b) 3,413 (b)
Less additional contribution that would have
been required for the TESOP if Series B
preferred stock had been converted (925) (b) (1,955) (b)
--------- --------- --------- ---------
Net income (loss), as adjusted $ 33,490 $ (79,118) $ 74,255 $ (45,805)
========= ========= ========= =========
Reconciliation of weighted average number of shares
outstanding to amount used in computation of fully
diluted earnings per share:
Weighted average number of shares outstanding 78,601 78,574 78,796 78,442
Adjustment to reflect assumed exercise of stock
options as of the beginning of the period 15 (b) 16 (b)
Adjustment to reflect assumed conversion of
Series B preferred stock to common stock as
of the later of the beginning of the period
or the date of issuance, August 1, 1990 1,981 (b) 2,013 (b)
--------- --------- --------- ---------
Weighted average number of common and common
equivalent shares outstanding, as adjusted 80,597 78,574 80,825 78,442
========= ========= ========= =========
Fully diluted net income per average common
and common equivalent share $ 0.42 $ (1.01) $ 0.92 $ (0.58)
========= ========= ========= =========
(a) This calculation is submitted in accordance with Regulation S-K, Item 601(b)(11) although not required by
footnote 2 to paragraph 14 of APB Opinion No. 15 because it results in dilution of less than 3%.
(b) For the three months and six months ended June 30, 1994 these items are anti-dilutive and thus are omitted
from the calculation.
EXHIBIT 12
TANDY CORPORATION
STATEMENT OF COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
AND RATIOS OF EARNINGS TO FIXED CHARGES AND PREFERRED DIVIDENDS (1)
<CAPTIONS>
(In thousands, except ratios)
Three Months Ended Six Months Ended
June 30, June 30,
----------------------- -----------------------
1994 1993 1994 1993
--------- --------- --------- ---------
Ratios of Earnings to Fixed Charges
Income from continuing operations $ 34,415 $ 31,741 $ 76,210 $ 72,414
Plus provision for income taxes 21,318 18,244 47,207 41,624
--------- --------- --------- ---------
Income before income taxes 55,733 49,985 123,417 114,038
Fixed charges:
Interest expense and amortization
of debt discount 6,372 7,900 16,365 17,111
Amortization of issuance expense 62 102 150 208
Appropriate portion (33 1/3%) of rentals 17,799 16,440 35,333 32,524
--------- --------- --------- ---------
Total fixed charges 24,233 24,442 51,848 49,843
--------- --------- --------- ---------
Earnings before income taxes
and fixed charges $ 79,966 $ 74,427 $ 175,265 $ 163,881
========= ========= ========= =========
Ratios of earnings to fixed charges 3.30 3.05 3.38 3.29
========= ========= ========= =========
Ratios of Earnings to Fixed Charges
and Preferred Dividends:
Total fixed charges, as above $ 24,233 $ 24,442 $ 51,848 $ 49,843
Preferred dividends 9,632 9,807 19,463 19,664
--------- --------- --------- ---------
Total fixed charges and preferred dividends 33,865 34,249 71,311 69,507
========= ========= ========= =========
Earnings before income taxes, fixed charges
and preferred dividends $ 79,966 $ 74,427 $ 175,265 $ 163,881
========= ========= ========= =========
Ratios of earnings to fixed charges
and preferred dividends 2.36 2.17 2.46 2.36
========= ========= ========= =========
(1) The computation of Ratios of Earnings to Fixed Charges and Ratios of Earnings to Fixed Charges and
Preferred Dividends excludes results of operations from discontinued operations and fixed charges
relating to these same operations.