EX-12.1 5 brcd-10kxfy14xex121.htm STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES BRCD-10K - FY14 - EX12.1


Exhibit 12.1
Statement of Computation of Ratio of Earnings to Fixed Charges
(in thousands, except ratios)

 
Fiscal Year Ended
 
 
November 1, 2014
 
October 26, 2013
 
October 27, 2012
 
October 29, 2011
 
October 30, 2010
 
Earnings from continuing operations before taxes
$
353,621

 
$
330,461

 
$
224,401

 
$
79,428

 
$
106,970

 
Adjustments:
 
 
 
 
 
 
 
 
 
 
Add fixed charges
41,401

 
60,698

 
55,745

 
101,349

 
99,824

 
Less capitalized interest

 

 

 

 
(7,755
)
 
Total fixed charges from continuing operations
41,401

 
60,698

 
55,745

 
101,349

 
92,069

 
Earnings before taxes and fixed charges, net of capitalized interest
$
395,022

 
$
391,159

 
$
280,146

 
$
180,777

 
$
199,039

 
Fixed charges:
 
 
 
 
 
 
 
 
 
 
Interest expense
$
36,757

 
$
55,261

 
$
52,488

 
$
97,838

 
$
85,858

 
Capitalized interest

 

 

 

 
7,755

 
Interest component of rent expense
4,644

 
5,437

 
3,257

 
3,511

 
6,211

 
Total fixed charges from continuing operations
$
41,401

 
$
60,698

 
$
55,745

 
$
101,349

 
$
99,824

 
Ratio of earnings to fixed charges (1)
9.5

x
6.4

x
5.0

x
1.8

x
2.0

x
Coverage deficiency

 

 

 

 

 
(1)
The ratio of earnings to fixed charges was computed by dividing earnings from continuing operations before taxes and fixed charges, net of capitalized interest, by total fixed charges from continuing operations for the periods indicated. Fixed charges from continuing operations include (i) interest expense and capitalization and amortization of debt discount and issuance costs on all indebtedness and (ii) one-third of all rental expense, which the Company considers to be a reasonable approximation of the interest factor included in rental expense.