Attached files
file | filename |
---|---|
EX-32.2 - SECTION 1350 CERTIFICATION OF THE CHIEF FINANCIAL OFFICER - GAP INC | fy201610-kexhibit322.htm |
EX-32.1 - SECTION 1350 CERTIFICATION OF THE CHIEF EXECUTIVE OFFICER - GAP INC | fy201610-kexhibit321.htm |
EX-31.2 - SECTION 302 CERTIFICATION OF THE CHIEF FINANCIAL OFFICER - GAP INC | fy201610-kexhibit312.htm |
EX-31.1 - SECTION 302 CERTIFICATION OF THE CHIEF EXECUTIVE OFFICER - GAP INC | fy201610-kexhibit311.htm |
EX-23 - CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - GAP INC | exhibit23fy16.htm |
EX-21 - SUBSIDIARIES OF REGISTRANT - GAP INC | fy2016exhibit21subsidiaryl.htm |
10-K - 10-K - GAP INC | fy201610-k.htm |
Exhibit 12
Ratio of Earnings to Fixed Charges
Fiscal Year (number of weeks) | |||||||||||||||||||
($ in millions except ratios) | 2016 (52) | 2015 (52) | 2014 (52) | 2013 (52) | 2012 (53) | ||||||||||||||
Earnings before income taxes and interest expense | $ | 1,199 | $ | 1,530 | $ | 2,088 | $ | 2,154 | $ | 1,948 | |||||||||
Less: capitalized interest, net | (9 | ) | (8 | ) | (7 | ) | (8 | ) | (6 | ) | |||||||||
Total fixed charges | 548 | 533 | 551 | 522 | 675 | ||||||||||||||
Earnings for calculation | $ | 1,738 | $ | 2,055 | $ | 2,632 | $ | 2,668 | $ | 2,617 | |||||||||
Fixed charges: | |||||||||||||||||||
Gross interest incurred | $ | 75 | $ | 59 | $ | 75 | $ | 61 | $ | 87 | |||||||||
Interest portion of rent expense (1) | 473 | 474 | 476 | 461 | 588 | ||||||||||||||
Total fixed charges | $ | 548 | $ | 533 | $ | 551 | $ | 522 | $ | 675 | |||||||||
Ratio of earnings to fixed charges | 3.2 | 3.9 | 4.8 | 5.1 | 3.9 |
(1) The interest portion of rent expense for fiscal 2016, 2015, 2014, and 2013 was calculated as 36 percent of rent expense. For fiscal 2012, the interest portion of rent expense was calculated as 48 percent of rent expense.