Neiman Marcus 2004 Annual Report Download - page 167

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EXHIBIT 12.1
The Neiman Marcus Group, Inc.
Computation of Ratio of Earnings to Fixed Charges
(Unaudited)
Years Ended
July 30,
2005
July 31,
2004
August 2,
2003
August 3,
2002(1)
July 28,
2001
(in thousands, except ratios)
Fixed Charges:
Interest on debt $ 24,036 $ 20,871 $ 18,686 $ 20,832 $ 20,418
Amortization of debt discount and expense 248 220 254 251 247
Interest element of rentals 22,770 20,823 19,041 17,952 19,008
Total fixed charges $ 47,054 $ 41,914 $ 37,981 $ 39,035 $ 39,673
Earnings:
Earnings before income taxes, minority interest and change in accounting principle $399,148 $329,313 $205,840 $162,244 $178,440
Add back:
Fixed charges 47,054 41,914 37,981 39,035 39,673
Amortization of capitalized interest 538 424 401 312 258
Less:
Capitalized interest (5,350) (3,036) (1,425) (3,116) (1,954)
Total earnings $441,390 $368,615 $242,797 $198,475 $216,417
Ratio of earnings to fixed charges 9.4 8.8 6.4 5.1 5.5
2002 includes 53 weeks of operations while the other years presented consist of 52 weeks of operations.(1)