LOWES COMPANIES INC - FORM 10-Q - EX-12.1 - EXHIBIT 12.1 - STATEMENT RE COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - May 31, 2011

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10-Q - LOWE'S FORM 10-Q 04-29-2011 - LOWES COMPANIES INClowesform10q04292011.htm
EXCEL - IDEA: XBRL DOCUMENT - LOWES COMPANIES INCFinancial_Report.xls
EX-31.1 - EXHIBIT 31.1 - SECTION 302 CERTIFICATION - LOWES COMPANIES INCexhibit311.htm
EX-32.1 - EXHIBIT 32.1 - SECTION 906 CERTIFICATION - LOWES COMPANIES INCexhibit321.htm
EX-32.2 - EXHIBIT 32.2 - SECTION 906 CERTIFICATION - LOWES COMPANIES INCexhibit322.htm
EX-31.2 - EXHIBIT 31.2 - SECTION 302 CERTIFICATION - LOWES COMPANIES INCexhibit312.htm
EX-10.1 - EXHIBIT 10.1 - FORM OF LOWE'S COMPANIES, INC., PERFORMANCE SHARE UNIT AWARD AGREEMENT - LOWES COMPANIES INCexhibit101.htm
EX-15.1 - EXHIBIT 15.1 - DELOITTE & TOUCHE LLP LETTER RE UNAUDITED INTERIM FINANCIAL INFORMATION - LOWES COMPANIES INCexhibit151.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,
  
April 30,
    
January 28,
  
January 29,
  
January 30,
  
February 1,
  
February 2,
 
2011 
  
2010 
    
2011 
  
2010 
  
2009 
  
2008 
  
2007 
 
                                       
 Earnings:
                                        
   Earnings Before Income Taxes
$
 740 
  
$
 786 
  
$
 3,228 
  
$
 2,825 
  
$
 3,506 
  
$
 4,511 
  
$
 4,998 
   Fixed Charges
  
 128 
    
 119 
    
 486 
    
 468 
    
 479 
    
 424 
    
 344 
   Capitalized Interest 1 
  
 1 
    
 - 
    
 (4)
    
 (19)
    
 (36)
    
 (65)
    
 (32)
     Adjusted Earnings
$
 869 
  
$
 905 
  
$
 3,710 
  
$
 3,274 
  
$
 3,949 
  
$
 4,870 
  
$
 5,310 
 
                                       
 Fixed Charges:
                                        
   Interest Expense 2
$
 94 
  
$
 85 
  
$
 352 
  
$
 331 
  
$
 346 
  
$
 301 
  
$
 238 
   Rental Expense 3
  
 34 
    
 34 
    
 134 
    
 137 
    
 133 
    
 123 
    
 106 
     Total Fixed Charges
$
 128 
  
$
 119 
  
$
 486 
  
$
 468 
  
$
 479 
  
$
 424 
  
$
 344 
 
                                       
 
                                       
 Ratio of Earnings to Fixed Charges
  
 6.8 
    
 7.6 
    
 7.6 
    
 7.0 
    
 8.2 
    
 11.5 
    
 15.4 
 
                                       
 
                                       
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.
          

 
 
 

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