AutoZone 2013 Annual Report Download - page 142
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80
Exhibit 12.1
Computation of Ratio of Earnings to Fixed Charges
(Unaudited)
Fiscal Year Ended August
(in thousands, except ratios)
2013
(53 weeks)
2012
(52 weeks)
2011
(52 weeks)
2010
(52 weeks)
2009
(52 weeks)
Earnin
g
s:
Income before income taxes............... $ 1,587,683 $ 1,452,986 $ 1,324,246 $ 1,160,505 $ 1,033,746
Fixed charges ..................................... 265,108 250,056 240,329 223,608 204,017
Less: Capitalized interes
t
.................. (1,303) (1,245) (1,059) (1,093) (1,301)
Adjusted earnings ........................... $ 1,851,488 $ 1,701,797 $ 1,563,516 $ 1,383,020 $ 1,236,462
Fixed char
g
es:
Gross interest expense ........................ $ 180,085 $ 170,481 $ 164,712 $ 156,135 $ 143,860
Amortization of debt expense ............ 8,239 8,066 8,962 6,495 3,644
Interest portion of rent expense .......... 76,784 71,509 66,655 60,978 56,513
Fixed charges .................................. $ 265,108 $250,056$240,329$223,608 $ 204,017
Ratio of earnin
g
s to fixed char
g
es ...... 7.0 6.8 6.5 6.2 6.1
10-K