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Exhibit 12
AMES DEPARTMENT STORES, INC. AND SUBSIDIARIES
RATIO OF EARNINGS TO FIXED CHARGES
(In Thousands, Except Ratio Data)
Thirty-Nine
Weeks Ended Fiscal Year Ended
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Oct. 28, January 29, January 30, January 31, January 25, January 27,
2000 2000 1999 1998 1997 1996
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<S> <C> <C> <C> <C> <C> <C>
Income (loss) before
income taxes,
extraordinary item
and cumulative effect
adjustment (88,432) (31,355) 52,605 53,633 26,804 (1,618)
Add:
Interest expense 64,843 60,843 15,253 11,600 19,043 24,116
Interest component of
rental expense 32,944 29,253 21,121 18,409 16,541 16,208
------------- ------------ ------------ ------------- ------------ ------------
Earnings available for fixed
charges 9,355 58,741 88,979 83,642 62,388 38,706
Fixed Charges:
Interest expense 64,843 60,843 15,253 11,600 19,043 24,116
Interest component of
rental expense 32,944 29,253 21,121 18,409 16,541 16,208
------------- ------------ ------------ ------------- ------------ ------------
Total fixed charges 97,787 90,096 36,374 30,009 35,584 40,324
Ratio of earnings to fixed
charges 0.1x 0.7x 2.4x 2.8x 1.8x 1.0x
For the purpose of calculating the ratio of earnings to fixed charges,
earnings consist of income before income taxes, extraordinary item and
cumulative effect adjustment plus fixed charges (net of capitalized interest).
Fixed charges consist of interest expense on all indebtedness and capitalized
interest, amortized premiums, discounts and capitalized expenses related to
indebtedness, and one-third of rent expense on operating leases representing
that portion of rent expense deemed by us to be attributable to interest. For
the thirty-nine weeks ended October 28, 2000 and the fiscal year ended January
29, 2000, the amount of additional earnings that would have been required to
cover fixed charges for these periods was $88.4 million and $31.4 million,
respectively.
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