EXHIBIT 12 FOOT LOCKER, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (Unaudited) ($ in millions) Twenty-six weeks ended Fiscal Year Ended -------------- --------------------------------------------- Aug. 2, Aug. 3, Feb. 1, Feb. 2, Feb. 3, Jan. 29, Jan. 30, 2003 2002 2003 2002 2001 2000 1999 ---- ---- ---- ---- ---- ---- ----- NET EARNINGS Income from continuing operations $ 76 $ 71 $162 $111 $107 $ 59 $ 14 Income tax expense (benefit) 41 37 84 64 69 38 (28) Interest expense, excluding capitalized interest 13 17 33 35 41 65 57 Portion of rents deemed representative of the interest factor (1/3) 83 79 165 158 155 170 161 ---- ---- ---- ---- ---- ---- ----- $213 $204 $444 $368 $372 $332 $ 204 ==== ==== ==== ==== ==== ==== ===== FIXED CHARGES Gross interest expense $ 13 $ 17 $ 33 35 $ 42 $ 67 $ 64 Portion of rents deemed representative of the interest factor (1/3) 83 79 165 158 155 170 161 ---- ---- ---- ---- ---- ---- ----- $ 96 $ 96 $198 $193 $197 $237 $ 225 ==== ==== ==== ==== ==== ==== ===== RATIO OF EARNINGS TO FIXED CHARGES 2.2 2.1 2.2 1.9 1.9 1.4 0.9 Earnings were not adequate to cover fixed charges by $21 million for the fiscal year ended January 30, 1999.