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EXHIBIT 12
RITE AID CORPORATION AND SUBSIDIARIES
STATEMENT REGARDING COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
YEARS ENDED FEBRUARY 28, 1998, MARCH 1, 1997, MARCH 2, 1996,
MARCH 4, 1995 AND FEBRUARY 26, 1994
(DOLLAR AMOUNTS IN THOUSANDS)
Year Ended Year Ended Year Ended Year Ended Year Ended
February 28, March 1, March 2, March 4, February 26,
1998 1997 1996 1995 1994
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Fixed Charges
Interest Expense $159,752 $96,473 $68,341 $42,300 $28,683
Interest Portion of Net
Rental Expense (1) 111,943 66,067 52,080 40,424 40,427
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Fixed Charges Before
Capitalized Interest 271,695 162,540 120,421 82,724 69,110
Capitalized Interest 3,834 1,897 1,948 373 217
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Total Fixed Charges $275,529 $164,437 $122,369 $83,097 $69,327
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Earnings
Income Before Extra-
ordinary Loss and
Income Taxes $530,041 $258,927 (3) $256,202 $231,464 $45,670 (2)
Fixed Charges Before
Capitalized Interest 271,695 162,540 120,421 82,724 69,110
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Total Adjusted Earnings $801,736 $421,467 $376,623 $314,188 $114,780
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Ratio of Earnings to
Fixed Charges 2.91 2.56 3.08 3.78 1.66
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(1) The interest portion of the net rental expense is estimated to be equal
to one-third of the minimum rental expense for the period.
(2) Income before extraordinary loss and income taxes for fiscal year 1994
includes a $149,196,000 one-time, pre-tax provision for corporate
restructuring and other charges.
(3) Income before extraordinary loss and income taxes for fiscal year 1997
includes a $68,057,000 one-time, pre-tax charge for nonrecurring and
other charges.