Autozone Inc – ‘10-K’ for 8/30/03 – EX-12.1

On:  Wednesday, 10/29/03, at 8:05pm ET   ·   As of:  10/30/03   ·   For:  8/30/03   ·   Accession #:  950144-3-11980   ·   File #:  1-10714

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Annual Report   —   Form 10-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Autozone, Inc.                                      HTML    736K 
 4: EX-10.12    EX-10.12 Amendment No.1, Consent and Waiver            7     28K 
 2: EX-10.3     EX-10.3 Third Amended & Restated Stock Option Plan    18     66K 
 3: EX-10.6     EX-10.6 Amended 2000 Executive Compensation Plan       3     15K 
 5: EX-12.1     EX-12.1 Statement Re Computation of Ratio Earnings     1      8K 
 6: EX-14.1     EX-14.1 Code of Ethics                                 2     10K 
 7: EX-21.1     EX-21.1 Subsidiaries of the Registrant                 1      7K 
 8: EX-23.1     EX-23.1 Consent of Ernst & Young LLP                   1      9K 
 9: EX-31.1     EX-31.1 Section 302 Certification of the CEO           2±    11K 
10: EX-31.2     EX-31.2 Section 302 Certification of the CFO           2±    11K 
11: EX-32.1     EX-32.1 Section 906 Certification of the CEO           1      8K 
12: EX-32.2     EX-32.2 Section 906 Certification of the CFO           1      8K 

EX-12.1   —   EX-12.1 Statement Re Computation of Ratio Earnings

EX-12.1
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                                                                    EXHIBIT 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES             

(in thousands)                                                

                                                        [Enlarge/Download Table]

                                                   AUGUST 31,  AUGUST 30,  AUGUST 25,   AUGUST 26,  AUGUST 28,
                                                      2003        2002        2001         2000        1999   
                                                   (52 WEEKS)  (53 WEEKS)  (52 WEEKS)   (52 WEEKS)  (52 WEEKS)
                                                   ----------  ----------  ----------   ----------  ----------
                                                                                                              
Earnings from continuing                                                                                      
  operations before income taxes..................  $833,007    $691,148    $287,026      $435,190    $387,783

Add:                                                                                                          

  Fixed charges...................................   121,129      98,688     121,140        97,520      66,015

Deduct:                                                                                                       

  Capitalized interest............................       791         437       1,379         2,773       2,762
                                                    --------    --------    --------      --------    --------

Earnings..........................................  $953,345    $789,399    $406,787      $529,937    $451,036
                                                    ========    ========    ========      ========    ========

Fixed charges:                                                                                                

  Interest on indebtedness........................    77,862      76,573      98,465        77,699      47,117

  Amortization of debt expense....................     8,773       3,893       4,202         2,209       1,206

  Portion of rents representative of                                                                          
   the interest factor............................    34,494      18,222      18,473        17,612      17,692
                                                    --------    --------    --------      --------    --------
Total fixed charges...............................  $121,129    $ 98,688    $121,140      $  97520    $ 66,015
                                                    ========    ========    ========      ========    ========
Ratio of earnings to fixed                                                                                    
 charges..........................................      7.9x        8.0x        3.4x (a)      5.4x        6.8x
                                                    ========    ========    ========      ========    ========

(a) Income before income taxes for the fiscal year ended August 2001 reflects   
the impact of pretax restructuring and impairment charges of $156.8 million.