EX-12.1 4 splsex121020114ratioofearn.htm RATIO OF EARNINGS TO FIXED CHARGES SPLS EX 12.1 020114 Ratio of Earnings to Fixed Charges


Exhibit 12.1

STAPLES, INC. AND SUBSIDIARIES
Statement of Computation of Ratio of Earnings to Fixed Charges
(Amounts in Thousands, Except Ratios)
(unaudited)

 
 
Fiscal Year Ended
 
 
February 1, 2014
 
February 2, 2013
 
January 28, 2012
 
January 29, 2011
 
January 30, 2010
Earnings:
 
 
 
 
 
 
 
 
 
 
Income from continuing operations before income taxes
 
$
1,062,805

 
$
265,423

 
$
1,464,644

 
$
1,366,537

 
$
1,165,048

Add Fixed Charges:
 
 
 
 
 
 
 
 
 
 
Interest portion of rental expense
 
240,408

 
251,677

 
251,878

 
248,810

 
250,302

Interest expense, net of capitalized interest
 
131,429

 
183,448

 
199,735

 
239,639

 
244,590

Amortization of capitalized interest
 
—

 
—

 
—

 
—

 
—

Pre-tax losses from equity method investees
 
—

 
1,661

 
3,626

 
1,972

 
1,373

Less:
 
 
 
 
 
 
 
 
 
 
Capitalized interest
 
—

 
—

 
—

 
—

 
—

Noncontrolling interest
 
—

 
—

 
—

 
—

 
—

  Earnings
 
$
1,434,642

 
$
702,209

 
$
1,919,883

 
$
1,856,958

 
$
1,661,313

 
 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
 
Interest portion of rental expense
 
$
240,408

 
$
251,677

 
$
251,878

 
$
248,810

 
$
250,302

Interest expense, net of capitalized interest
 
131,429

 
183,448

 
199,735

 
239,639

 
244,590

Capitalized interest
 
—

 
—

 
—

 
—

 
—

  Fixed charges
 
$
371,837

 
$
435,125

 
$
451,613

 
$
488,449

 
$
494,892

 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
 
3.86

 
1.61

 
4.25

 
3.80

 
3.36