EXHIBIT 12
FOOT LOCKER, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Unaudited)
($ in millions)
Fiscal Years Ended
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Feb. 3, Feb. 3, Jan. 29, Jan. 30, Jan. 31,
2002 2001 2000 1999 1998
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NET EARNINGS
Income from continuing
operations $ 111 $ 107 $ 59 $ 14 $ 185
Income tax expense (benefit) 64 69 38 (28) 104
Interest expense, excluding capitalized
interest 35 41 65 57 41
Portion of rents deemed representative
of the interest factor (1/3) 158 155 170 161 146
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$ 368 $ 372 $ 332 $ 204 $ 476
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FIXED CHARGES
Gross interest expense 35 42 67 64 41
Portion of rents deemed representative
of the interest factor (1/3) 158 155 170 161 146
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$ 193 $ 197 $ 237 $ 225 $ 187
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RATIO OF EARNINGS TO FIXED
CHARGES 1.9 1.9 1.4 0.9 2.5
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Earnings were not adequate to cover fixed charges by $21 million for the fiscal
year ended January 30, 1999.