HOME DEPOT, INC. - FORM 10-K - EX-12 - STATEMENT OF COMPUTATION OF RATIO EARNINGS - March 25, 2010

Attached files

file filename
EX-21 - LIST OF SUBSIDIARIES OF THE COMPANY - HOME DEPOT, INC.dex21.htm
EX-23 - CONSENT OF KPMG LLP - HOME DEPOT, INC.dex23.htm
EX-32.2 - CFO CERTIFICATIONS - HOME DEPOT, INC.dex322.htm
EX-10.6 - AMENDMENT #1 TO HOME DEPOT 2005M OMNIBUS STOCK INCENTIVE - HOME DEPOT, INC.dex106.htm
EX-32.1 - CEO CERTIFICATIONS - HOME DEPOT, INC.dex321.htm
EX-31.2 - CFO CERTIFICATIONS - HOME DEPOT, INC.dex312.htm
EX-31.1 - CEO CERTIFICATIONS - HOME DEPOT, INC.dex311.htm
EX-10.4 - AMENDMENT #1 TO HOME DEPOT DEFERRED COMPENSATION PLAN - HOME DEPOT, INC.dex104.htm
EX-10.35 - MARVIN R. ELLISON EMPLOYMENT ARRANGEMENT - HOME DEPOT, INC.dex1035.htm
EXCEL - IDEA: XBRL DOCUMENT - HOME DEPOT, INC.Financial_Report.xls
10-K - FORM 10-K - HOME DEPOT, INC.d10k.htm

Exhibit 12

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)  
     2005     2006     2007     2008     2009  

Earnings From Continuing Operations Before
Income Taxes

    $ 8,967      $ 8,502      $ 6,620      $ 3,590      $ 3,982   

Less: Capitalized Interest

      (51 )      (47 )      (46 )      (20 )      (4 ) 

Add:

           

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

      177        257        279        286        277   

Interest Expense

      192        437        741        644        680   
                                        

Adjusted Earnings

    $ 9,285      $ 9,149      $ 7,594      $ 4,500      $ 4,935   
                                        

Fixed Charges:

           

Interest Expense

    $ 192      $ 437      $ 741      $ 644      $ 680   

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

      177        257        279        286        277   
                                        

Total Fixed Charges

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

Ratio of Earnings to Fixed Charges(2)

      25.2x        13.2x        7.4x        4.8x        5.2x   

 

(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)

HOME DEPOT, INC. Reports