EX-12.1 11 dex121.htm STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Statement of Computation of Ratio of Earnings to Fixed Charges

Exhibit 12.1

Statement of Computation of Ratio of Earnings to Fixed Charges

(in thousands, except ratios)

 

     Fiscal Year Ended  
     October 31,
2009
    October 25,
2008
    October 27,
2007
    October 28,
2006
    October 29,
2005
 

Earnings (loss) from continuing operations before taxes

   $ (66,013   $ 29,922      $ 144,915      $ 98,352      $ 55,198   

Adjustments:

          

Add fixed charges

     107,655        17,020        11,573        10,698        11,271   

Less capitalized interest

     (9,093     (1,439     —          —          —     
                                        

Total fixed charges from continuing operations

     98,562        15,581        11,573        10,698        11,271   
                                        

Earnings before taxes and fixed charges, net of capitalized interest

   $ 32,449      $ 45,503      $ 156,488      $ 109,050      $ 66,469   
                                        

Fixed charges:

          

Interest expense

     91,282        10,068        6,414        7,082        7,693   

Capitalized interest

     9,093        1,439        —          —          —     

Interest component of rent expense

     7,281        5,513        5,159        3,616        3,578   
                                        

Total fixed charges from continuing operations

     107,655        17,020        11,573        10,698        11,271   
                                        

Ratio of earnings to fixed charges (1)

     0.3     2.7     13.5     10.2     5.9

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.