EXHIBIT 12.1
NORDSTROM, INC. AND SUBSIDIARIES
EARNINGS TO FIXED CHARGES
($ IN THOUSANDS)
Six Months
Ended
Year Ended January 31, July 31,
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1990 1991 1992 1993 1994 1993 1994
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EARNINGS PER
FINANCIAL STATEMENTS: . . . . . $114,909 $115,816 $135,815 $136,619 $140,418 $ 53,946 $ 94,996
Add (Deduct):
Provision for Income
Taxes. . . . . . . . . . . . 64,500 62,500 81,400 85,500 90,500 34,600 62,000
Fixed Charges . . . . . . . . 66,962 73,088 70,981 64,389 58,118 29,148 28,418
Capitalized Interest. . . . (5,256) (6,734) (5,708) (2,292) (1,510) (361) (2,829)
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Earnings for Computation . . . $241,115 $244,670 $282,488 $284,216 $287,526 $117,333 $182,585
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FIXED CHARGES:
Interest Expense:
Debt and Capitalized
Leases . . . . . . . . . . . $ 56,074 $ 60,412 $ 56,494 $ 48,263 $ 40,780 $ 20,727 $ 19,296
Equipment Leases
Component. . . . . . . . . . 2,824 3,562 3,894 4,125 4,043 2,002 2,031
Operating Leases
Component. . . . . . . . . . 8,064 9,114 10,593 12,001 13,295 6,419 7,091
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Total Fixed Charges. . . . . . $ 66,962 $ 73,088 $ 70,981 $ 64,389 $ 58,118 $ 29,148 $ 28,418
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Ratio of Earnings to Fixed
Charges . . . . . . . . . . . . 3.60 3.35 3.98 4.41 4.95 4.03 6.42
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