EX-12.1 4 d90692ex12-1.txt STATEMENT RE: COMPUTATION OF RATIOS 1 EXHIBIT 12.1 FEDERATED DEPARTMENT STORES, INC. COMPUTATION OF HISTORICAL RATIOS OF EARNINGS TO FIXED CHARGES(a) (IN MILLIONS, EXCEPT RATIO DATA)
26 Weeks Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year Ended Ended Ended Ended Ended Ended 8/4/01 2/3/01 1/29/00 1/30/99 1/31/98 2/1/97 -------- ---------- ---------- ----------- ----------- ----------- Income before income taxes and $ 211 $ 113 $1,346 $1,163 $ 958 $ 441 extraordinary items ................... Add: Portion of rents representative of the interest factor ................ 63 132 118 113 120 117 Interest Expense .................... 202 444 368 304 418 499 ------ ------ ------ ------ ------ ------ Adjusted Income ........................ $ 476 $ 689 $1,832 $1,580 $1,496 $1,057 ====== ====== ====== ====== ====== ====== Fixed Charges: Interest Expense ................... $ 202 $ 444 $ 368 $ 304 $ 418 $ 499 Capitalized Interest ............... 1 3 3 3 2 1 Portion of rents representative of the interest factor ................ 63 132 118 113 120 117 ------ ------ ------ ------ ------ ------ Total Fixed Charges .................... $ 266 $ 579 $ 489 $ 420 $ 540 $ 617 ====== ====== ====== ====== ====== ====== Ratio of earnings to fixed charges ..... 1.8x 1.2x 3.7x 3.8x 2.8x 1.7x
----------------- (a) For purposes of determining the ratio of earnings to fixed charges, earnings consist of income before income taxes and extraordinary items plus fixed charges (excluding interest capitalized). Fixed charges represent interest incurred, amortization of debt expenses, and that portion of rental expenses on operating leases deemed to be the equivalent of interest.