Foot Locker 2008 Annual Report Download - page 91

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75
Exhibit 12
FOOT LOCKER, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Unaudited)
($ in millions)
Fiscal Ended
Jan. 31, Feb. 2, Feb. 3, Jan. 28, Jan. 29,
2009 2008(1) 2007 2006 2005
NET EARNINGS
(Loss) income from continuing operations ......... $ (79) $ 43 $247 $263 $255
Income tax (benefit) expense ................... (21) (93) 145 142 119
Interest expense, excluding capitalized interest ..... 16 21 23 23 22
Portion of rents deemed representative of the
interest factor (1/3) ....................... 229 224 214 210 202
$ 145 $ 195 $ 629 $ 638 $ 598
FIXED CHARGES
Gross interest expense ........................ $ 16 $ 21 $ 23 $ 23 $ 22
Portion of rents deemed representative of the
interest factor (1/3) ....................... 229 224 214 210 202
$245 $245 $237 $233 $224
RATIO OF EARNINGS TO FIXED CHARGES ............ 0.6 0.8 2.7 2.7 2.7
(1) The results for the year ended February 2, 2008 have been revised to reflect a SAB 108 adjustment related to income taxes. The revision has
no effect on the fixed charge coverage ratio.