Exhibit 12.1
Lowe's Companies, Inc.
Statement Re Computation of Ratio of Earnings to Fixed Charges
In Millions, Except Ratio Data
		Fiscal Years Ended On
	February 1,				January 30,				January 29,				January 28,				February 3,
	2008				2009				2010				2011				2012
Earnings:
Earnings Before Income Taxes		$	4,511			$	3,506			$	2,825			$	3,228			$	2,906
Fixed Charges			424				479				468				486				524
Capitalized Interest1			(65	)			(36	)			(19	)			(4	)			-
Adjusted Earnings		$	4,870			$	3,949			$	3,274			$	3,710			$	3,430
Fixed Charges:
Interest Expense2			301				346				331				352				385
Rental Expense3			123				133				137				134				139
Total Fixed Charges		$	424			$	479			$	468			$	486			$	524
Ratio of Earnings to Fixed Charges			11.5				8.2				7.0				7.6				6.5
1 Includes the net of subtractions for interest capitalized and additions for the amortization of previously-capitalized interest.
2 Interest accrued on uncertain tax positions is excluded from Interest Expense in the computation of Fixed Charges.
3 The portion of rental expense that is representative of the interest factor in these rentals.