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Previous: PENNEY J C CO INC, 10-Q, EX-12.A, 2000-09-12 |
Next: PENNEY J C CO INC, 10-Q, EX-27.A, 2000-09-12 |
<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
July 29, July 31,
($ Millions) 2000 1999
_________ _________
Income from continuing operations $ 45 $ 947
(before income taxes and
capitalized interest)
Fixed charges
Interest (including capitalized
interest) on:
Operating leases 272 225
Short term debt 78 123
Long term debt 504 556
Capital leases 2 2
Other, net - (5)
_________ __________
Total fixed charges 856 901
_________ __________
Total available income $ 901 $ 1,848
========= ==========
Ratio of available income to
fixed charges 1.1 2.1
========= ==========
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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