EX-12.1 10 d223486dex121.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 29,
2011
    October 30,
2010
    October 31,
2009
    October 25,
2008
    October 27,
2007
 

Earnings from continuing operations before taxes

   $ 79,428      $ 106,970      $ (76,575   $ 19,050      $ 134,098   

Adjustments:

          

Add fixed charges

     101,349        99,824        115,668        23,732        16,454   

Less capitalized interest

     —          (7,755     (9,093     (970     —     
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total fixed charges from continuing operations

     101,349        92,069        106,575        22,762        16,454   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Earnings before taxes and fixed charges, net of capitalized interest

   $ 180,777      $ 199,039      $ 30,000      $ 41,812      $ 150,552   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Fixed charges:

          

Interest expense

     97,838        85,858        99,294        17,249        11,295   

Capitalized interest

     —          7,755        9,093        970        —     

Interest component of rent expense

     3,511        6,211        7,281        5,513        5,159   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total fixed charges from continuing operations

     101,349        99,824        115,668        23,732        16,454   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Ratio of earnings to fixed charges (1)

     1.8     2.0     0.3     1.8     9.1

Coverage deficiency

   $ —        $ —        $ 85,668      $ —        $ —     
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

(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.