Foot Locker 2007 Annual Report Download - page 88

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72
EXHIBIT 12
FOOT LOCKER, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Unaudited)
($ in millions)
Fiscal Ended
Feb. 2,
2008 Feb. 3,
2007 Jan. 28,
2006 Jan. 29,
2005 Jan. 31,
2004
NET EARNINGS
Income from continuing operations . . . . . . . . . . . . . $ 49 $247 $263 $255 $209
Income tax (benefit) expense .................. (99) 145 142 119 115
Interest expense, excluding capitalized interest .... 21 23 23 22 26
Portion of rents deemed representative of the
interest factor (1/3) . . . . . . . . . . . . . . . . . . . . . . 224 214 210 202 177
$195 $629 $638 $598 $ 527
FIXED CHARGES
Gross interest expense . . . . . . . . . . . . . . . . . . . . . . . $ 21 $23 $23 $22 $26
Portion of rents deemed representative of the
interest factor (1/3) . . . . . . . . . . . . . . . . . . . . . . 224 214 210 202 177
$245 $237 $233 $224 $203
RATIO OF EARNINGS TO FIXED CHARGES ........... 0.8 2.7 2.7 2.7 2.6