Attached files
| file | filename |
|---|---|
| EX-32.2 - SECTION 906 CERTIFICATION - LOWES COMPANIES INC | exhibit322.htm |
| EX-32.1 - SECTION 906 CERTIFICATION - LOWES COMPANIES INC | exhibit321.htm |
| EX-31.2 - SECTION 302 CERTIFICATION - LOWES COMPANIES INC | exhibit312.htm |
| EX-31.1 - SECTION 302 CERTIFICATION - LOWES COMPANIES INC | exhibit311.htm |
| EX-15.1 - DELOITTE & TOUCHE LLP LETTER RE UNAUDITED INTERIM FINANCIAL INFORMATION - LOWES COMPANIES INC | exhibit151.htm |
| 10-Q - FORM 10-Q - LOWES COMPANIES INC | form10q.htm |
Exhibit 12.1
Lowe’s Companies, Inc.
Statement Re Computation of Ratio of Earnings to Fixed Charges
In Millions, Except Ratio Data
Three Months Ended | Fiscal Years Ended On | ||||||||||||||||||||||||||
April 29, 2016 | May 1, 2015 | January 29, 2016 4 | January 30, 2015 | January 31, 2014 | February 1, 2013 | February 3, 2012 | |||||||||||||||||||||
Earnings: | |||||||||||||||||||||||||||
Earnings Before Income Taxes | $ | 1,430 | $ | 1,098 | $ | 4,419 | $ | 4,276 | $ | 3,673 | $ | 3,137 | $ | 2,906 | |||||||||||||
Fixed Charges | 198 | 174 | 720 | 677 | 623 | 605 | 524 | ||||||||||||||||||||
Capitalized Interest 1 | 2 | 2 | 9 | 9 | 8 | 6 | — | ||||||||||||||||||||
Adjusted Earnings | $ | 1,630 | $ | 1,274 | $ | 5,148 | $ | 4,962 | $ | 4,304 | $ | 3,748 | $ | 3,430 | |||||||||||||
Fixed Charges: | |||||||||||||||||||||||||||
Interest Expense 2 | $ | 157 | $ | 135 | $ | 559 | $ | 525 | $ | 478 | $ | 463 | $ | 385 | |||||||||||||
Rental Expense 3 | 41 | 39 | 161 | 152 | 145 | 142 | 139 | ||||||||||||||||||||
Total Fixed Charges | $ | 198 | $ | 174 | $ | 720 | $ | 677 | $ | 623 | $ | 605 | $ | 524 | |||||||||||||
Ratio of Earnings to Fixed Charges | 8.2 | 7.3 | 7.1 | 7.3 | 6.9 | 6.2 | 6.5 | ||||||||||||||||||||
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. |
4 | Earnings for the fiscal year ended January 29, 2016 included a $530 million non-cash impairment charge related to the investment in the Australia joint venture with Woolworths Limited. Excluding this charge from the calculation would result in a ratio of earnings to fixed charges of 7.9 for the fiscal year ended January 29, 2016. |