HOME DEPOT, INC. - FORM 10-Q - EX-12.1 - STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - June 3, 2010

Attached files

file filename
EXCEL - IDEA: XBRL DOCUMENT - HOME DEPOT, INC.Financial_Report.xls
EX-31.1 - SECTION 302 CERTIFICATION - HOME DEPOT, INC.dex311.htm
EX-31.2 - SECTION 302 CERTIFICATION - HOME DEPOT, INC.dex312.htm
EX-32.1 - SECTION 906 CERTIFICATION - HOME DEPOT, INC.dex321.htm
EX-32.2 - SECTION 906 CERTIFICATION - HOME DEPOT, INC.dex322.htm
10-Q - FORM 10-Q - HOME DEPOT, INC.d10q.htm
EX-15.1 - LETTER OF KPMG LLP, ACKNOWLEDGEMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING - HOME DEPOT, INC.dex151.htm

Exhibit 12.1

THE HOME DEPOT, INC. AND SUBSIDIARIES

STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(amounts in millions, except ratio data)

 

     Fiscal Year (1)     Three  Months
Ended
May 2, 2010		  
     2005     2006     2007     2008     2009    

Earnings From Continuing Operations Before Income Taxes

    $8,967      $8,502      $6,620      $3,590      $3,982      $1,116   
Less: Capitalized Interest    (51 )    (47 )    (46 )    (20 )    (4 )    (1 ) 
Add:             

Portion of Rental Expense under operating leases deemed to be the equivalent of interest

    177      257      279      286      277      70   

Interest Expense

    192      437      741      644      680      143   
                                    
Adjusted Earnings    $9,285      $9,149      $7,594      $4,500      $4,935      $1,328   
                                    
Fixed Charges:             

Interest Expense

    $  192      $  437      $  741      $  644      $  680      $  143   

Portion of Rental Expense under operating leases deemed to be the equivalent of interest

    177      257      279      286      277      70   
                                    

Total Fixed Charges

    $  369      $  694      $  1,020      $  930      $  957      $  213   
                                    

Ratio of Earnings to Fixed Charges (2)

    25.2 x    13.2 x    7.4x      4.8 x    5.2 x    6.2 x 

 

(1)

Fiscal years 2009, 2008, 2007, 2006 and 2005 refer to the fiscal years ended January 31, 2010, February 1, 2009, February 3, 2008, January 28, 2007 and January 29, 2006, respectively. Fiscal year 2007 includes 53 weeks; all other fiscal years reported include 52 weeks.

 

(2)

For purposes of computing the ratios of earnings to fixed charges, “earnings” consist of earnings from continuing operations before income taxes plus fixed charges, excluding capitalized interest. “Fixed charges” consist of interest incurred on indebtedness including capitalized interest, amortization of debt expenses and the portion of rental expense under operating leases deemed to be the equivalent of interest. The ratios of earnings to fixed charges are calculated as follows:

(earnings from continuing operations before income taxes)+(fixed charges)-(capitalized interest)

(fixed charges)

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