EXHIBIT 12.1
THE HOME DEPOT, INC. AND SUBSIDIARIES
RATIO OF EARNINGS TO FIXED CHARGES
($ IN MILLIONS, EXCEPT RATIO DATA)
(1) Fiscal years 2005, 2004, 2003, 2002, and 2001 refer to the fiscal years
ended January 29, 2006, January 30, 2005, February 1, 2004, February 2,
2003 and February 3, 2002, respectively. Fiscal year 2001 consisted of 53
weeks.
(2) For purposes of computing the ratios of earnings to fixed charges,
"earnings" consist of earnings before income taxes and minority interest
plus fixed charges, excluding capitalized interest. "Fixed charges" consist
of interest incurred on indebtedness including capitalized interest,
amortization of debt expenses and one-third the portion of rental expense
under operating leases, which is deemed to be the equivalent of interest.
The ratios of earnings to fixed charges are calculated as follows:
(earnings before income taxes and minority interest)+(fixed
charges)-(capitalized interest)
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(fixed charges)