EXHIBIT 12
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THE LIMITED, INC. AND SUBSIDIARIES
RATIO OF EARNINGS TO FIXED CHARGES
(Thousands except ratio amounts)
Thirty-nine Weeks Ended
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November 1, November 2,
1997 1996
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Adjusted Earnings
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Income before income taxes $236,129 $299,815
Portion of minimum rent ($565,157 in 1997 and $546,176 in
1996) representative of interest 186,502 182,059
Interest on indebtedness 50,744 55,902
Minority Interest 23,910 17,023
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Total earnings as adjusted $497,285 $554,799
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Fixed Charges
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Portion of minimum rent representative of interest $186,502 $182,059
Interest on indebtedness 50,744 55,902
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Total fixed charges $237,246 $237,961
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Ratio of earnings to fixed charges 2.10x 2.33x
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