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Previous: MAY DEPARTMENT STORES CO, 10-Q, EX-15, 2000-09-12 |
Next: MAY DEPARTMENT STORES CO, 10-Q, EX-27, 2000-09-12 |
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Exhibit 12
THE MAY DEPARTMENT STORES COMPANY AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
FOR THE FIVE FISCAL YEARS ENDED JANUARY 29, 2000 AND FOR THE
TWENTY-SIX WEEKS ENDED JULY 29, 2000, AND JULY 31, 1999
(Dollars in millions)
26 Weeks Ended Fiscal Year Ended
July 29, July 31, Jan. 29, Jan. 30, Jan. 31, Feb. 1, Feb. 3,
2000 1999 2000 1999 1998 1997 1996
<S> <C> <C> <C> <C> <C> <C> <C>
Earnings Available for Fixed Charges:
Pretax earnings from continuing
operations $ 425 $ 460 $ 1,523 $ 1,395 $ 1,279 $ 1,232 $ 1,160
Fixed charges (excluding interest
capitalized and pretax preferred
stock dividend requirements) 183 174 346 344 363 346 317
Dividends on ESOP Preference Shares (12) (12) (24) (25) (26) (26) (28)
Capitalized interest amortization 4 4 7 7 6 6 5
600 626 1,852 1,721 1,622 1,558 1,454
Fixed Charges:
Gross interest expense (a) $ 180 $ 169 $ 340 $ 339 $ 353 $ 341 $ 316
Interest factor attributable to
rent expense 12 11 22 21 23 22 20
192 180 362 360 376 363 336
Ratio of Earnings to Fixed Charges 3.1 3.5 5.1 4.8 4.3 4.3 4.3
(a) Represents interest expense on long-term and short-term debt, ESOP debt and amortization of debt
discount and debt issue expense.
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