Attached files
| file | filename |
|---|---|
| EX-32.2 - SECTION 906 CERTIFICATION - LOWES COMPANIES INC | exhibit322_05042018.htm |
| EX-32.1 - SECTION 906 CERTIFICATION - LOWES COMPANIES INC | exhibit321_05042018.htm |
| EX-31.2 - SECTION 302 CERTIFICATION - LOWES COMPANIES INC | exhibit312_05042018.htm |
| EX-31.1 - SECTION 302 CERTIFICATION - LOWES COMPANIES INC | exhibit311_05042018.htm |
| EX-15.1 - DELOITTE & TOUCHE LLP LETTER RE UNAUDITED INTERIM FINANCIAL INFORMATION - LOWES COMPANIES INC | exhibit151_05042018.htm |
| 10-Q - FORM 10-Q - LOWES COMPANIES INC | form10q_05042018.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 | ||||||||||||||||||||||||||
May 4, 2018 | May 5, 2017 | February 2, 2018 | February 3, 2017 | January 29, 2016 4 | January 30, 2015 | January 31, 2014 | |||||||||||||||||||||
Earnings: | |||||||||||||||||||||||||||
Earnings Before Income Taxes | $ | 1,305 | $ | 934 | $ | 5,489 | $ | 5,201 | $ | 4,419 | $ | 4,276 | $ | 3,673 | |||||||||||||
Fixed Charges | 218 | 215 | 870 | 847 | 720 | 677 | 623 | ||||||||||||||||||||
Capitalized Interest 1 | 2 | 2 | 7 | 8 | 9 | 9 | 8 | ||||||||||||||||||||
Adjusted Earnings | $ | 1,525 | $ | 1,151 | $ | 6,366 | $ | 6,056 | $ | 5,148 | $ | 4,962 | $ | 4,304 | |||||||||||||
Fixed Charges: | |||||||||||||||||||||||||||
Interest Expense 2 | $ | 164 | $ | 164 | $ | 657 | $ | 659 | $ | 559 | $ | 525 | $ | 478 | |||||||||||||
Rental Expense 3 | 54 | 51 | 213 | 188 | 161 | 152 | 145 | ||||||||||||||||||||
Total Fixed Charges | $ | 218 | $ | 215 | $ | 870 | $ | 847 | $ | 720 | $ | 677 | $ | 623 | |||||||||||||
Ratio of Earnings to Fixed Charges | 7.0 | 5.4 | 7.3 | 7.2 | 7.1 | 7.3 | 6.9 | ||||||||||||||||||||
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 equity method 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. |