Attached files
| file | filename |
|---|---|
| 10-Q - FORM 10-Q - LOWES COMPANIES INC | form10q.htm |
| EX-31.2 - SECTION 302 CERTIFICATION - LOWES COMPANIES INC | exhibit312.htm |
| EX-15.1 - DELOITTE & TOUCHE LLP LETTER RE UNAUDITED INTERIM FINANCIAL INFORMATION - LOWES COMPANIES INC | exhibit151.htm |
| EX-31.1 - SECTION 302 CERTIFICATION - LOWES COMPANIES INC | exhibit311.htm |
| EX-32.1 - SECTION 906 CERTIFICATION - LOWES COMPANIES INC | exhibit321.htm |
| EX-32.2 - SECTION 906 CERTIFICATION - LOWES COMPANIES INC | exhibit322.htm |
Exhibit 12.1
Lowe’s Companies, Inc.
Statement Re Computation of Ratio of Earnings to Fixed Charges
In Millions, Except Ratio Data
Six Months Ended | Fiscal Years Ended | ||||||||||||||||||||||||||
July 31, 2015 | August 1, 2014 | January 30, 2015 | January 31, 2014 | February 1, 2013 | February 3, 2012 | January 28, 2011 | |||||||||||||||||||||
Earnings: | |||||||||||||||||||||||||||
Earnings Before Income Taxes | $ | 2,937 | $ | 2,636 | $ | 4,276 | $ | 3,673 | $ | 3,137 | $ | 2,906 | $ | 3,228 | |||||||||||||
Fixed Charges | 349 | 329 | 677 | 623 | 605 | 524 | 486 | ||||||||||||||||||||
Capitalized Interest 1 | 5 | 5 | 9 | 8 | 6 | — | (4 | ) | |||||||||||||||||||
Adjusted Earnings | $ | 3,291 | $ | 2,970 | $ | 4,962 | $ | 4,304 | $ | 3,748 | $ | 3,430 | $ | 3,710 | |||||||||||||
Fixed Charges: | |||||||||||||||||||||||||||
Interest Expense 2 | $ | 270 | $ | 254 | $ | 525 | $ | 478 | $ | 463 | $ | 385 | $ | 352 | |||||||||||||
Rental Expense 3 | 79 | 75 | 152 | 145 | 142 | 139 | 134 | ||||||||||||||||||||
Total Fixed Charges | $ | 349 | $ | 329 | $ | 677 | $ | 623 | $ | 605 | $ | 524 | $ | 486 | |||||||||||||
Ratio of Earnings to Fixed Charges | 9.4 | 9.0 | 7.3 | 6.9 | 6.2 | 6.5 | 7.6 | ||||||||||||||||||||
1 | Includes the net of subtractions for interest capitalized and additions for amortization of previously-capitalized interest. |
2 | Interest accrued on uncertain tax positions is excluded from Interest Expense in the computation of Fixed Charges. |
3 | The portion of rental expense that is representative of the interest factor in these rentals. |