Attached files
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Exhibit 12.1
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Lowe's Companies, Inc.
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Statement Re Computation of Ratio of Earnings to Fixed Charges
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In Millions, Except Ratio Data
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Nine Months Ended
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Fiscal Years Ended On
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October 29,
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October 30,
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January 29,
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January 30,
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February 1,
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February 2,
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February 3,
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2010
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2009
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2010
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2009
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2008
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2007
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2006
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Earnings:
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Earnings Before Income Taxes
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$ | 2,772 | $ | 2,504 | $ | 2,825 | $ | 3,506 | $ | 4,511 | $ | 4,998 | $ | 4,496 | ||||||||
Add: Fixed Charges
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364 | 352 | 468 | 479 | 424 | 344 | 340 | |||||||||||||||
Less: Capitalized Interest (1)
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(4 | ) | (12 | ) | (19 | ) | (36 | ) | (65 | ) | (32 | ) | (28 | ) | ||||||||
Adjusted Earnings
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$ | 3,132 | $ | 2,844 | $ | 3,274 | $ | 3,949 | $ | 4,870 | $ | 5,310 | $ | 4,808 | ||||||||
Fixed Charges:
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Interest Expense (2)
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$ | 261 | $ | 248 | $ | 331 | $ | 346 | $ | 301 | $ | 238 | $ | 231 | ||||||||
Rental Expense (3)
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103 | 104 | 137 | 133 | 123 | 106 | 109 | |||||||||||||||
Total Fixed Charges
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$ | 364 | $ | 352 | $ | 468 | $ | 479 | $ | 424 | $ | 344 | $ | 340 | ||||||||
Ratio of Earnings to Fixed Charges
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8.6 | 8.1 | 7.0 | 8.2 | 11.5 | 15.4 | 14.1 | |||||||||||||||
(1) Includes the net of interest capitalized and the amortization of previously-capitalized interest.
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(2) Interest accrued on uncertain tax positions is excluded from Interest Expense in the computation of Fixed Charges.
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(3) The portion of rental expense that is representative of the interest factor in these rentals.
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