Attached files
| file | filename |
|---|---|
| EX-32.2 - EXHIBIT 32.2 - HOME DEPOT, INC. | hd_exhibit322x07292018.htm |
| EX-32.1 - EXHIBIT 32.1 - HOME DEPOT, INC. | hd_exhibit321x07292018.htm |
| EX-31.2 - EXHIBIT 31.2 - HOME DEPOT, INC. | hd_exhibit312x07292018.htm |
| EX-31.1 - EXHIBIT 31.1 - HOME DEPOT, INC. | hd_exhibit311x07292018.htm |
| EX-15.1 - EXHIBIT 15.1 - HOME DEPOT, INC. | hd_exhibit151x07292018.htm |
| 10-Q - 10-Q - HOME DEPOT, INC. | hd_10qx07292018.htm |
Exhibit 12.1
THE HOME DEPOT, INC.
STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Unaudited)
Six Months Ended July 29, 2018 | Fiscal (1) | |||||||||||||||||
dollars in millions | 2017 | 2016 | 2015 | 2014 | 2013 | |||||||||||||
Earnings before provision for income taxes | $ | 7,797 | $ | 13,698 | $ | 12,491 | $ | 11,021 | $ | 9,976 | $ | 8,467 | ||||||
Add: | ||||||||||||||||||
Interest expense | 536 | 1,059 | 973 | 921 | 832 | 713 | ||||||||||||
Portion of rental expense under operating leases deemed to be the equivalent of interest | 180 | 354 | 333 | 312 | 312 | 308 | ||||||||||||
Less capitalized interest | (3 | ) | (2 | ) | (1 | ) | (2 | ) | (2 | ) | (2 | ) | ||||||
Adjusted earnings | $ | 8,510 | $ | 15,109 | $ | 13,796 | $ | 12,252 | $ | 11,118 | $ | 9,486 | ||||||
Fixed charges: | ||||||||||||||||||
Interest expense | $ | 536 | $ | 1,059 | $ | 973 | $ | 921 | $ | 832 | $ | 713 | ||||||
Portion of rental expense under operating leases deemed to be the equivalent of interest | 180 | 354 | 333 | 312 | 312 | 308 | ||||||||||||
Total fixed charges | $ | 716 | $ | 1,413 | $ | 1,306 | $ | 1,233 | $ | 1,144 | $ | 1,021 | ||||||
Ratio of earnings to fixed charges(2) | 11.9 | x | 10.7 | x | 10.6 | x | 9.9 | x | 9.7 | x | 9.3 | x | ||||||
(1) | Fiscal 2017, 2016, 2015, 2014 and 2013 refer to the fiscal years ended January 28, 2018, January 29, 2017, January 31, 2016, February 1, 2015 and February 2, 2014, respectively. All fiscal years reported include 52 weeks. |
(2) | For purposes of computing the ratio of earnings to fixed charges, “earnings” consist of earnings before provision for income taxes adding fixed charges deducting 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 ratio of earnings to fixed charges is calculated as follows: |
(earnings before provision for income taxes) + (fixed charges) - (capitalized interest)
(fixed charges)