Foot Locker 2004 Annual Report Download - page 80

Download and view the complete annual report

Please find page 80 of the 2004 Foot Locker 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 88

  • 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

EXHIBIT 12
FOOT LOCKER, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Unaudited)
($ in millions)
Fiscal Year Ended
Jan. 29,
2005
Jan. 31,
2004
Feb. 1,
2003
Feb. 2,
2002
Feb. 3,
2001
NET EARNINGS .........................................
Income from continuing operations .................... $255 $209 $162 $111 $107
Income tax expense .................................... 119 115 84 64 69
Interest expense, excluding capitalized interest ........ 22 26 33 35 41
Portion of rents deemed representative of the
interest factor (1/3) ................................. 202 177 164 157 154
$598 $527 $443 $367 $371
FIXED CHARGES .........................................
Gross interest expense ................................. $ 22 $ 26 $ 33 $ 35 $ 42
Portion of rents deemed representative of the
interest factor (1/3) ................................. 202 177 164 157 154
$224 $203 $197 $192 $196
RATIO OF EARNINGS TO FIXED CHARGES ................ 2.7 2.6 2.2 1.9 1.9