Staples, Inc. | |||||||||||||||||||
Statement of Computation of Ratio of Earnings to Fixed Charges | |||||||||||||||||||
(in thousands, except ratios) | |||||||||||||||||||
Fiscal Year Ended | |||||||||||||||||||
January 31, | January 29, | January 30, | January 31, | February 2, | |||||||||||||||
2012 | 2011 | 2010 | 2009 | 2008 | |||||||||||||||
Earnings: | |||||||||||||||||||
Consolidated income before income taxes | $ | 1,459,141 | $ | 1,356,595 | $ | 1,155,894 | $ | 1,243,084 | $ | 1,554,482 | |||||||||
Interest portion of rental expense | 251,878 | 248,810 | 250,302 | 228,318 | 199,562 | ||||||||||||||
Interest expense, net of capitalized interest | 173,751 | 214,824 | 237,025 | 149,774 | 38,335 | ||||||||||||||
Capitalized interest | — | — | — | — | — | ||||||||||||||
Pre tax earnings (losses) from equity method investees | 3,626 | 1,972 | 1,373 | 1,013 | 192 | ||||||||||||||
Less: capitalized interest | — | — | — | — | — | ||||||||||||||
Less: minority interests | — | — | — | — | — | ||||||||||||||
Earnings | $ | 1,888,396 | $ | 1,822,201 | $ | 1,644,594 | $ | 1,622,189 | $ | 1,792,571 | |||||||||
Fixed charges: | |||||||||||||||||||
Interest portion of rental expense | $ | 251,878 | $ | 248,810 | $ | 250,302 | $ | 228,318 | $ | 199,562 | |||||||||
Interest expense, net of capitalized interest | 173,751 | 214,824 | 237,025 | 149,774 | 38,335 | ||||||||||||||
Capitalized interest | — | — | — | — | — | ||||||||||||||
Fixed charges | $ | 425,629 | $ | 463,634 | $ | 487,327 | $ | 378,092 | $ | 237,897 | |||||||||
Ratio of earnings to fixed charges | 4.44 | 3.93 | 3.37 | 4.29 | 7.54 | ||||||||||||||