Attached files
| file | filename |
|---|---|
| EX-31.2 - CERTIFICATION OF THE CFO - HOME DEPOT, INC. | hd_exhibit312x11012015.htm |
| EX-15.1 - ACKNOWLEDGEMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - HOME DEPOT, INC. | hd_exhibit151x11012015.htm |
| EX-32.2 - SECTION 906 CERTIFICATION OF THE CFO - HOME DEPOT, INC. | hd_exhibit322x11012015.htm |
| EX-31.1 - CERTIFICATION OF THE CEO - HOME DEPOT, INC. | hd_exhibit311x11012015.htm |
| EX-32.1 - SECTION 906 CERTIFICATION OF THE CEO - HOME DEPOT, INC. | hd_exhibit321x11012015.htm |
| 10-Q - 10-Q - HOME DEPOT, INC. | hd_10qx11012015.htm |
Exhibit 12.1
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) | |||||||||||||||||||||||
Nine Months Ended | |||||||||||||||||||||||
November 1, 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||
Earnings Before Provision for Income Taxes | $ | 8,708 | $ | 9,976 | $ | 8,467 | $ | 7,221 | $ | 6,068 | $ | 5,273 | |||||||||||
Less: Capitalized Interest | (1 | ) | (2 | ) | (2 | ) | (3 | ) | (3 | ) | (3 | ) | |||||||||||
Add: | |||||||||||||||||||||||
Portion of Rental Expense under operating leases deemed to be the equivalent of interest | 234 | 312 | 308 | 298 | 280 | 278 | |||||||||||||||||
Interest Expense | 678 | 832 | 713 | 635 | 609 | 533 | |||||||||||||||||
Adjusted Earnings | $ | 9,619 | $ | 11,118 | $ | 9,486 | $ | 8,151 | $ | 6,954 | $ | 6,081 | |||||||||||
Fixed Charges: | |||||||||||||||||||||||
Interest Expense | $ | 678 | $ | 832 | $ | 713 | $ | 635 | $ | 609 | $ | 533 | |||||||||||
Portion of Rental Expense under operating leases deemed to be the equivalent of interest | 234 | 312 | 308 | 298 | 280 | 278 | |||||||||||||||||
Total Fixed Charges | $ | 912 | $ | 1,144 | $ | 1,021 | $ | 933 | $ | 889 | $ | 811 | |||||||||||
Ratio of Earnings to Fixed Charges(2) | 10.5 | x | 9.7 | x | 9.3 | x | 8.7 | x | 7.8 | x | 7.5 | x | |||||||||||
(1) | Fiscal years 2014, 2013, 2012, 2011 and 2010 refer to the fiscal years ended February 1, 2015, February 2, 2014, February 3, 2013, January 29, 2012 and January 30, 2011, respectively. Fiscal year 2012 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 before provision for 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 before provision for income taxes)+(fixed charges)-(capitalized interest)
(fixed charges)