Neiman Marcus 2002 Annual Report Download - page 137

Download and view the complete annual report

Please find page 137 of the 2002 Neiman Marcus annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 175

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175

EXHIBIT 12.1
The Neiman Marcus Group, Inc.
Computation of Ratio of Earnings to Fixed Charges
(Unaudited)
Years Ended
(in thousands, except ratios)
August 2,
2003
August 3,
2002 (1)
July 28,
2001
July 29,
2000
July 31,
1999
Fixed Charges:
Interest on debt $ 18,686 $ 20,787 $ 20,418 $ 28,145 $ 26,094
Amortization of debt discount and expense 254 251 247 267 267
Interest element of rentals 19,041 17,952 19,008 17,193 16,005
Total fixed charges 37,981 38,990 39,673 45,605 42,366
Earnings:
Earnings before income taxes, minority
interest and change in accounting
principle 205,840 162,244 178,440 222,979 157,642
Add back:
Fixed charges 37,981 38,990 39,673 45,605 42,366
Amortization of capitalized interest 401 312 258 232 230
Less:
Capitalized interest (1,425)(3,116)(1,954)(427)(379)
Total earnings $ 242,797 $ 198,430 $ 216,417 $ 268,389 $ 199,859
Ratio of earnings to fixed charges 6.4 5.1 5.5 5.9 4.7
(1) 2002 includes fifty-three weeks of operations while the other years presented consist of fifty-two weeks of operations.