Pep Boys 2011 Annual Report Download - page 163
Download and view the complete annual report
Please find page 163 of the 2011 Pep Boys 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.-
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
 |
 |
Exhibit 12
Fiscal Year Ended
January 28, January 29, January 30, January 31, February 2,
2012 2011 2010 2009 2008
(dollar amounts in thousands, except ratios)
Interest ......................... $26,306 $ 26,745 $21,704 $ 27,048 $ 51,293
Interest factor in rental expense ....... 30,519 26,579 25,088 25,717 23,085
Capitalized interest ................ — — — — —
(a) Fixed charges, as defined ........... $56,825 $ 53,324 $46,792 $ 52,765 $ 74,378
Earnings (loss) from continuing
operations before income taxes and
cumulative effect of change in
accounting principle .............. $41,588 $ 58,444 $37,616 $(34,977) $(63,032)
Fixed charges .................... 56,825 53,324 46,792 52,765 74,378
Capitalized interest ................ — — — — —
(b) Earnings, as defined .............. $98,413 $111,768 $84,408 $ 17,788 $ 11,346
(c) Ratio of earnings to fixed charges
(b%a).......................... 1.7 2.1 1.8 — —
The ratio of earnings to fixed charges is completed by dividing earnings by fixed charges.
‘‘Earnings’’ consist of earnings before income taxes plus fixed charges (exclusive of capitalized interest
costs) plus one-third of rental expense (which amount is considered representative of the interest factor
in rental expense). Earnings, as defined, were not sufficient to cover fixed charges by approximately
$35.0 million and $63.0 million for fiscal 2008 and 2007, respectively.