Exhibit 12.1

THE HOME DEPOT, INC. AND SUBSIDIARIES

RATIO OF EARNINGS TO FIXED CHARGES

($ in millions, except ratio data)

																	Six Months Ended July 31, 2005
		Fiscal Year (1)
		2000			2001			2002			2003			2004
Earnings Before Income Taxes		$	4,217		$	4,957		$	5,872		$	6,843		$	7,912		$	4,809
Less:	Capitalized Interest	(72		)	(84		)	(59		)	(50		)	(40		)	(19		)
Add:
	Minority Interest Income	(2		)	—			—			—			—			—
	Portion of Rental Expense under operating leases deemed to be the equivalent of interest	112			122			132			145			170			93
	Interest Expense	90			110			96			112			110			90
Adjusted Earnings		$	4,345		$	5,105		$	6,041		$	7,050		$	8,152		$	4,973
Fixed Charges:
	Interest Expense	$	90		$	110		$	96		$	112		$	110		$	90
	Portion of Rental Expense under operating leases deemed to be the equivalent of interest	112			122			132			145			170			93
Total Fixed Charges		$	202		$	232		$	228		$	257		$	280		$	183
Ratio of Earnings to Fixed Charges (2)		21.5		x	22.0		x	26.5		x	27.4		x	29.1		x	27.1		x

⁽¹⁾Fiscal years 2004, 2003, 2002, 2001 and 2000 refer to the fiscal years ended January 30, 2005, February 1, 2004, February 2, 2003, February 3, 2002 and January 28, 2001, respectively.  Fiscal year 2001 consisted of 53 weeks.

⁽²⁾For purposes of computing the ratios of earnings to fixed charges, “earnings” consist of earnings before income taxes and minority interest plus fixed charges, excluding capitalized interest.  “Fixed charges” consist of interest incurred on indebtedness including capitalized interest, amortization of debt expenses and one-third the portion of rental expense under operating leases, which is deemed to be the equivalent of interest.  The ratios of earnings to fixed charges are calculated as follows:

(earnings before income taxes and minority interest)+(fixed charges)-(capitalized interest)

(fixed charges)