WAL MART STORES INC
10-Q, EX-12, 2000-11-30
VARIETY STORES
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Exhibit 12
Statement re computation of ratios

 

Nine Months
Ended
October 31,

Fiscal Years Ended

 

2000

1999

2000

1999

1998

1997

1996

Income before income taxes

6,903

5,904**

9,083

7,323

5,719

4,877

4,359

Capitalized interest

(43)

(30)

(57)

(41)

(33)

(44)

(50)

Minority interest

(72)

(84)

(170)

(153)

(78)

(27)

(13)

Adjusted profit before tax*

6,788

5,790

8,856

7,129

5,608

4,806

4,296

 

Fixed charges

 

Debt interest

842

502

756

529

555

629

692

Capital lease interest

206

197

266

268

229

216

196

Capitalized interest

43

30

57

41

33

44

50

Interest component of rent

514

379

458

523

477

449

425

Total fixed expense

1,605

1,108

1,537

1,361

1,294

1,338

1,363

 

Profit before taxes and fixed expenses

8,393

6,898

10,393

8,490

6,902

6,144

5,659

 

Fixed charge coverage

5.23

6.23

6.76

6.24

5.33

4.59

4.15

*  Does not include the cumulative effect of accounting change recorded by the
   Company in Fiscal 2000

** Restated to reflect the impact on the nine months ended October 31, 1999 of the
   accounting change recorded by the Company in fiscal 2000.



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