HD SUPPLY, INC. - FORM 10-K - EX-12.1 - COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - April 13, 2010

Attached files

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EX-10.6 - LETTER AGREEMENT - HD SUPPLY, INC.dex106.htm
EX-10.7 - NOTICE OF CONSENT - HD SUPPLY, INC.dex107.htm
EX-10.4 - AMEND. NO 3 TO CREDIT AGREEMENT - HD SUPPLY, INC.dex104.htm
EX-10.5 - CONSENT TO AMENDMENT TO CREDIT AGREEMENT - HD SUPPLY, INC.dex105.htm
EX-10.12 - LIMITED CONSENT AND AMENDMENT NO.3 TO ABL CREDIT AGREEMENT - HD SUPPLY, INC.dex1012.htm
EX-10.53 - LETTER OF EMPLOYMENT - HD SUPPLY, INC.dex1053.htm
EX-10.54 - FORM OF STOCK OPTION AGREEMENT - HD SUPPLY, INC.dex1054.htm
EX-32.2 - CERTIFICATION PURSUANT TO SECTION 906 - HD SUPPLY, INC.dex322.htm
EX-21.1 - SUBSIDIARIES OF THE REGISTRANT - HD SUPPLY, INC.dex211.htm
EX-31.2 - CERTIFICATION PURSUANT TO RULE 13A-14(A) - HD SUPPLY, INC.dex312.htm
EX-31.1 - CERTIFICATION PURSUANT TO RULE 13A-14(A) - HD SUPPLY, INC.dex311.htm
EX-23.1 - CONSENT OF KPMG LLP - HD SUPPLY, INC.dex231.htm
EX-10.57 - LETTER OF CONTINUED EMPLOYMENT - HD SUPPLY, INC.dex1057.htm
EX-10.56 - LETTER OF CONTINUED EMPLOYMENT - HD SUPPLY, INC.dex1056.htm
EX-10.55 - LETTER OF CONTINUED EMPLOYMENT - HD SUPPLY, INC.dex1055.htm
EX-32.1 - CERTIFICATION PURSUANT TO SECTION 906 - HD SUPPLY, INC.dex321.htm
10-K - FORM 10-K - HD SUPPLY, INC.d10k.htm

Exhibit 12.1

HD SUPPLY, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in millions, except ratio data)

 

    Successor(1)          Predecessor(1)
    Fiscal Year
Ended
January 31,
2010		     Fiscal Year
Ended
February  1,
2009		     Period from
August 30,
2007 to
February 3,
2008		          Period from
January 29,
2007 to
August 29,
2007		    Fiscal Year
Ended
January 28,
2007		    Fiscal Year
Ended
January  29,
2006

Income (loss) from continuing operations before income taxes

   $ (716 )    $ (1,572 )    $ (231 )        $ 141    $ 435    $ 235

Add:

                  

Interest expense

     602        644        289            262      424      115

Portion of rental expense under operating leases deemed to be the equivalent of interest

     60        65        28            41      59      20
                                               

Adjusted earnings

   $ (54 )    $ (863 )    $ 86          $ 444    $ 918    $ 370
                                               

Fixed charges:

                  

Interest expense

   $ 602      $ 644      $ 289          $ 262    $ 424    $ 115

Portion of rental expense under operating leases deemed to be the equivalent of interest

     60        65        28            41      59      20
                                               

Total fixed charges

   $ 662      $ 709      $ 317          $ 303    $ 483    $ 135
                                               

Ratio of earnings to fixed charges(2) (3)

              1.5x      1.9x      2.7x
                                               

 

(1) The Successor period from August 30, 2007 to February 3, 2008 includes 22 weeks and 4 days. The Predecessor period from January 29, 2007 to August 29, 2007 includes 30 weeks and 3 days. All other fiscal years reported include 52 weeks.
(2) For the purposes of calculating the ratio of earnings to fixed charges, earnings consist of income from continuing operations before provision for income taxes plus fixed charges. Fixed charges include cash and non-cash interest expense, whether expensed or capitalized, amortization of debt issuance cost, amortization of the THD Guarantee and the portion of rental expense representative of the interest factor.
(3) For fiscal years ended January 31, 2010 and February 1, 2009 and the period from August 30, 2007 to February 3, 2008, our earnings were insufficient to cover fixed charges by $716 million, $1,572 million, and $231 million, respectively.

HD SUPPLY, INC. Reports

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