Attached files
| file | filename |
|---|---|
| EX-23.1 - CONSENT OF DELOITTE & TOUCHE LLP - LOWES COMPANIES INC | exhibit231_02022018.htm |
| EX-99.1 - SEVENTH AMENDMENT TO THE LOWE'S 401(K) PLAN - LOWES COMPANIES INC | exhibit991_10k02022018.htm |
| EX-32.2 - SECTION 906 CERTIFICATION - LOWES COMPANIES INC | exhibit322_02022018.htm |
| EX-32.1 - SECTION 906 CERTIFICATION - LOWES COMPANIES INC | exhibit321_02022018.htm |
| EX-31.2 - SECTION 302 CERTIFICATION - LOWES COMPANIES INC | exhibit312_02022018.htm |
| EX-31.1 - SECTION 302 CERTIFICATION - LOWES COMPANIES INC | exhibit311_02022018.htm |
| EX-21.1 - LIST OF SUBSIDIARIES - LOWES COMPANIES INC | exhibit211_02022018.htm |
| 10-K - FORM 10-K - LOWES COMPANIES INC | form10k_02022018.htm |
Exhibit 12.1
Lowe’s Companies, Inc.
Statement Re Computation of Ratio of Earnings to Fixed Charges
In Millions, Except Ratio Data
Fiscal Years Ended On | |||||||||||||||||||
January 31, 2014 | January 30, 2015 | January 29, 2016 4 | February 3, 2017 | February 2, 2018 | |||||||||||||||
Earnings: | |||||||||||||||||||
Earnings Before Income Taxes | $ | 3,673 | $ | 4,276 | $ | 4,419 | $ | 5,201 | $ | 5,489 | |||||||||
Fixed Charges | 623 | 677 | 720 | 847 | 870 | ||||||||||||||
Capitalized Interest 1 | 8 | 9 | 9 | 8 | 7 | ||||||||||||||
Adjusted Earnings | $ | 4,304 | $ | 4,962 | $ | 5,148 | $ | 6,056 | $ | 6,366 | |||||||||
Fixed Charges: | |||||||||||||||||||
Interest Expense 2 | 478 | 525 | 559 | 659 | 657 | ||||||||||||||
Rental Expense 3 | 145 | 152 | 161 | 188 | 213 | ||||||||||||||
Total Fixed Charges | $ | 623 | $ | 677 | $ | 720 | $ | 847 | $ | 870 | |||||||||
Ratio of Earnings to Fixed Charges | 6.9 | 7.3 | 7.1 | 7.2 | 7.3 | ||||||||||||||
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. |
4 | Earnings for the fiscal year ended January 29, 2016 included a $530 million non-cash impairment charge related to the investment in the Australia joint venture with Woolworths Limited. Excluding this charge from the calculation would result in a ratio of earnings to fixed charges of 7.9 for the fiscal year ended January 29, 2016. |