EX-12.1 3 toyex12-1_3q03.htm TOYS "R" US, INC. EXHIBIT 12.1 TO FORM 10-Q Q3-03 Toys "R" Us, Inc. Exhibit 12.1 to Form 10-Q Q3-2003

Exhibit 12.1

TOYS “R” US, INC.


Computation of Ratio of Earnings to Fixed Charges
for the Nine-Month Periods Ended November 1, 2003 and November 2, 2002
and for the Five Years Ended February 1, 2003
(Unaudited)
(In millions, except ratio data)

Nine Months Ended

Fiscal Year Ended

Ratio of Earnings to Fixed Charges:

Nov. 1,
2003

  

Nov. 2,
2002

Feb. 1,
2003

    

Feb. 2,
2002

    

Feb. 3,
2001

    

Jan. 29,
2000

    

Jan. 30,
1999

Earnings:

    

  

  

  

  

  

Earnings / (loss) before income taxes

$

(88)

$

(78)

        

$

361 

$

91 

$

637 

$

439 

$

(106)

Fixed charges

212 

190 

251 

253 

275 

269 

272 

Interest capitalized during period

(1)

(1)

(1)

(4)

(3)

(2)

(2)

Share of pre-tax income from investment in Toys – Japan

(4)

(5)

(30)

(29)

(31)

 -  

 -  

Minority interest

(7)

(12)

(14)

(22)

(52)

10 

5 

  

Earnings before income taxes and fixed charges

$

112 

  

$

94 

$

567 

  

$

289 

  

$

826 

  

$

716 

  

$

169 

  

  

  

  

  

Fixed Charges:

  

Interest expensed and capitalized

$

98 

$

87 

$

114 

$

121 

$

130 

$

93 

$

104 

  

Amortization of debt issuance costs

5 

5 

7 

5 

3 

5 

5 

  

Interest portion of rental expense

109 

98 

130 

127 

142 

171 

163 

  

Total fixed charges

$

212 

  

$

190 

$

251 

  

$

253 

  

$

275 

  

$

269 

  

$

272 

  

  

  

  

  

Ratio of earnings to fixed charges

 -  

 -  

2.26

1.14

3.00

2.66

 -  

  

  

  

  

  

Deficiency of earnings to fixed charges

$

(100)

$

(96)

    

$

 -  

$

 -  

$

 -  

$

 -  

$

(103)