The Gap, Inc. Exhibit 12.1
Computation of Ratio of Earnings to Fixed Charges
Fiscal Year Ended Nine Months Ended
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Feb 3, Feb 1, Jan 31, Jan 30, Jan 29, Oct. 30, Oct. 28,
1996 1997 1998 1999 2000 1999 2000
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Earnings Before Income Taxes 585,199 748,527 854,242 1,319,262 1,784,949 1,133,207 953,928
Add:
Interest Expense 5,490 5,529 17,779 46,145 44,968 26,717 47,261
Interest on rental expense 195,168 218,403 250,025 288,143 337,471 240,333 280,007
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Earnings 785,857 972,459 1,122,046 1,653,550 2,167,388 1,400,257 1,281,196
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Interest Expense 5,490 5,529 17,779 46,145 44,968 26,717 47,261
Capitalized Interest - 8,564 12,186 10,982 24,900 17,106 31,461
Interest on rental expense 195,168 218,403 250,025 288,143 337,471 240,333 280,007
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Fixed Charges 200,658 232,496 279,990 345,270 407,339 284,156 358,729
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Ratio of Earnings
to Fixed Charges 3.92 4.18 4.01 4.79 5.32 4.93 3.57