EX-12.1 2 f38194exv12w1.htm EXHIBIT 12.1 exv12w1
 

EXHIBIT 12.1
Computation of Ratio of Earnings to Fixed Charges
                                         
    Fiscal Years Ended  
    December 28, 2003     January 2, 2005     January 1, 2006     December 31, 2006     December 30, 2007  
    (In thousands, except ratios)  
Computation of earnings:
                                        
Earnings before provision for income taxes
   $ 241,881     $ 423,200     $ 613,307     $ 430,708     $ 398,416  
Fixed charges excluding capitalized interest
     8,565       9,725       1,263       11,934       18,708  
Distributed earnings from 50%-or-less-owned affiliate
     (148 )     (569 )     2,764       5,782       (5,692 )
 
                              
Adjusted earnings
   $ 250,298     $ 432,356     $ 617,334     $ 448,424     $ 411,432  
 
                              
 
                                        
Computation of fixed charges:
                                        
Interest expense
   $ 7,640     $ 8,526     $ 17     $ 9,506     $ 16,339  
Interest portion of operating lease expense
     925       1,199       1,246       2,428       2,369  
 
                              
Fixed charges
   $ 8,565     $ 9,725     $ 1,263     $ 11,934     $ 18,708  
 
                              
 
                                        
Ratio of earnings to fixed charges (1)
     29.2x       44.4x       488.8x       37.6x       22.0x  
 
(1)   Computed by dividing (i) earnings before taxes adjusted for fixed charges by (ii) fixed charges which include interest expense plus amortization of debt issuance costs, the portion of rent expense under operating leases deemed to be representative of the interest factor and interest relating to lease guarantees of 50%-or-less-owned affiliate.