Neiman Marcus 2007 Annual Report Download - page 200

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EXHIBIT 12.1
Neiman Marcus, Inc.
Computation of Ratio of Earnings to Fixed Charges
(Unaudited)
(Successor) (Predecessor)
(in thousands, except ratios)
Fiscal year
ended
August 2,
2008
Fiscal year
ended
July 28,
2007
Forty-three
weeks
ended
July 29,
2006(1)
Nine
weeks
ended
October 1,
2005(1)
Fiscal year
ended
July 30,
2005(1)
Fiscal year
ended
July 31,
2004(1)
Fixed Charges:
Interest on debt $ 233,557 $ 255,859 $ 214,777 $ 3,186 $ 23,336 $ 20,881
Amortization of debt discount and expense 14,217 14,141 11,728 96 831 220
Interest element of rentals 27,291 24,915 19,404 3,729 20,691 19,404
Total fixed charges $ 275,065 $ 294,915 $ 245,909 $ 7,011 $ 44,858 $ 40,505
Earnings:
Earnings from continuing operations before
income taxes $ 226,629 $ 216,998 $ 41,043 $ 71,173 $ 385,177 $ 316,313
Add back:
Fixed charges 275,065 294,915 245,909 7,011 44,858 40,505
Amortization of capitalized interest 1,018 495 776 105 538 424
Less:
Capitalized interest (3,036)(2,825)(3,446) (1,146)(5,350)(3,036)
Total earnings $ 499,676 $ 509,583 $ 284,282 $ 77,143 $ 425,223 $ 354,206
Ratio of earnings to fixed charges (2) 1.8 1.7 1.2 11.0 9.5 8.7
(1) All periods presented have been adjusted to exclude the operations of Gurwitch Products, L.L.C. and Kate Spade LLC.
(2) Interest associated with income tax liabilities is excluded from our calculation.
1