EXHIBIT 12.2
VF CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS
(000)
YEAR ENDED
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DECEMBER 31 JANUARY 1 JANUARY 2 JANUARY 4 DECEMBER 28
1994 1994 1993 1992 1990
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Earnings
Income from continuing operations
before provision for income taxes
per consolidated income statements $455,661 $399,987 $375,773 $263,197 $143,084
Interest on Indebtedness 79,646 72,178 70,479 68,004 75,843
Amortization of debt expenses and discount 634 493 589 583 526
Portion of rent expense representative
of the interest factor 18,500 15,600 10,100 8,200 6,800
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Income as adjusted $554,441 $488,258 $456,941 $339,984 $226,253
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Fixed charges
Interest on indebtedness $79,646 $72,178 $70,479 $68,004 $75,843
Amortization of debt expense and discount 634 493 589 583 526
Capitalized interest 142 1,022 1,439 466 145
Portion of rent expense representative
of the interest factor 18,500 15,600 10,100 8,200 6,800
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Fixed charges 98,922 89,293 82,607 77,253 83,314
Preferred stock dividends 4,229 4,291 4,335 4,366 4,130
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Fixed charges and preferred
stock dividends $103,151 $93,584 $86,942 $81,619 $87,444
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Ratio of earnings to combined fixed charges
and preferred stock dividends 5.4 5.2 5.3 4.2 2.6
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Note: For purposes of this ratio, earnings consist income before income taxes
plus fixed charges, excluding interest capitalized during the period.
Fixed charges consist of interest expense, capitalized interest and
one-third of rental expense. Which approximates the interest factor of
such rental expense. Preferred stock dividends relate to the
outstanding Series B Preferred Stock held by the Employee Stock
Ownership Plan.