FEDERATED DEPARTMENT STORES, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES(a)
(in thousands, except ratio data)
For the 26 Weeks Ended July 29, 1995 For the 52 Weeks Ended January 28, 1995
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Historical Historical Proforma Historical
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Federated Broadway Pro Forma Federated Federated Broadway Pro Forma
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Income (loss) before income taxes $ (188,121) $ (80,746) $(266,508) $ 331,284 $ 167,756 $ (37,210) $ 163,329
Add: Portion of rents representative
of the interest factor 64,169 8,950 73,595 71,109 128,338 18,850 147,188
Interest expense 223,558 62,499 264,524 262,115 465,217 100,904 526,296
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Adjusted income (loss) $ 99,606 $ (9,297) $ 71,611 $ 664,508 $ 761,311 $ 82,544 $ 836,813
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Fixed charges:
Interest expense $ 223,558 $ 62,449 $ 264,524 $ 262,115 $ 465,217 $ 100,904 $ 526,296
Capitalized interest 686 514 1,200 447 447 2,812 3,259
Portion of rents representative
of the interest factor 64,169 8,950 73,595 71,109 128,338 18,850 147,188
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Total fixed charges $ 288,413 $ 71,963 $ 339,319 $ 333,671 $ 594,002 $ 122,566 $ 676,743
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Ratio of earnings to fixed charges - - - 1.99 x 1.28 x - 1.24 x
Deficiency of earnings to fixed charges $ 188,807 $ 81,260 $ 267,708 - - $ 40,022 -
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(a) For the purposes of determining the ratio or deficiency of earnings to fixed charges, earnings consist of income before taxes
plus fixed charges (excluding interest capitalized). Fixed charges represent interest incurred, amortization of debt
expense, and that portion of rental expense on operating leases deemed to be equivalent of interest.