EX-12.1 2 d45113exv12w1.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES exv12w1
 

Exhibit 12.1
 
GAMESTOP CORP.
 
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
 
                                         
    Fiscal Year
 		    Fiscal Year
 		    Fiscal Year
 		    Fiscal Year
 		    Fiscal Year
 		 
    Ended
 		    Ended
 		    Ended
 		    Ended
 		    Ended
 		 
    February 3,
 		    January 28,
 		    January 29,
 		    January 31,
 		    February 1,
 		 
    2007     2006     2005     2004     2003  
    (Dollars in thousands)  
 
Earnings:
                                       
Earnings before income taxes
  $ 254,296     $ 159,922     $ 98,911     $ 105,188     $ 87,701  
Fixed charges
    148,215       65,864       23,565       16,932       14,616  
                                         
Adjusted earnings
  $ 402,511     $ 225,786     $ 122,476     $ 122,120     $ 102,317  
                                         
Ratio of earning to fixed charges
    2.7       3.4       5.2       7.2       7.0  
Fixed Charges:
                                       
Interest expense
  $ 83,722     $ 30,111     $ 2,155     $ 663     $ 1,368  
Amortization of issue discount
    940       316       —       —       —  
Interest portion of net rental expense(1)
    63,553       35,437       21,410       16,269       13,248  
                                         
Total fixed charges
  $ 148,215     $ 65,864     $ 23,565     $ 16,932     $ 14,616  
                                         
 
 
(1) The interest portion of net rental expense is estimated to be equal to 28% of the minimum rental expense for the period.