EX-12.1 4 dex121.htm COMPUTATION OF RATIO OF EARNINGS

Computation of Ratio of Earnings

EXHIBIT 12.1

		Fiscal Year (number of weeks)
		2010 (52)				2009 (52)				2008 (52)				2007 (52)				2006 (53)
($ in millions except ratios)
Earnings before income taxes and interest expense		$	1,974			$	1,822			$	1,585			$	1,432			$	1,356
Less: capitalized interest			—				—				(8	)			(10	)			(8	)
Total fixed charges			534				537				536				552				543
Earnings for calculation		$	2,508			$	2,359			$	2,113			$	1,974			$	1,891
Fixed charges:
Gross interest incurred		$	(8	)		$	6			$	1			$	26			$	41
Interest portion of rent expense			542				531				535				526				502
Total fixed charges		$	534			$	537			$	536			$	552			$	543
Preferred stock dividends			—				—				—				—				—
Total fixed charges and preferred dividends		$	534			$	537			$	536			$	552			$	543
Ratio of earnings to fixed charges			4.7				4.4				3.9				3.6				3.5
Ratio of earnings to combined fixed charges and preferred dividends			4.7				4.4				3.9				3.6				3.5