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Previous: PENNEY J C CO INC, 10-Q, EX-12.A, 2000-06-13 |
Next: PENNEY J C CO INC, 10-Q, EX-27.A, 2000-06-13 |
<PAGE>
Exhibit 12 (b)
J. C. Penney Company, Inc.
and Consolidated Subsidiaries
Computation of Ratios of Available Income to Fixed Charges
52 weeks 52 weeks
ended ended
Apr. 29, May 1,
($ Millions) 2000 1999
_________ _________
Income from continuing operations $ 68 $ 934
(before income taxes and
capitalized interest)
Fixed charges
Interest (including capitalized
interest) on:
Operating leases 272 225
Short term debt 109 115
Long term debt 522 558
Capital leases 1 4
Other, net 3 (5)
__________ __________
Total fixed charges 907 897
__________ __________
Total available income $ 975 $ 1,831
========== ==========
Ratio of available income to
fixed charges
1.1 2.0
========== ==========
The Company believes that, due to the seasonal nature of its business,
ratios for a period of time other than a 52 week period are inappropriate.
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