EX-12.1 2 dex121.htm EXHIBIT 12.1 Exhibit 12.1

EXHIBIT 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

AND PREFERRED STOCK DIVIDENDS

(in millions, except ratio amounts)

 

     Quarter ended  
     March 23,
2007		     March 24,
2006		  

Income from continuing operations before income taxes

    $ 38     $ 13  

Add (deduct):

     

Fixed charges

      109       109  

Capitalized interest

      (2 )     (1 )

Amortization of capitalized interest

      1       1  

Minority interest in consolidated affiliates

      11       13  

Equity in earnings related to certain 50% or less owned affiliates

      (2 )     (1 )

Distributions from equity investments

      2       1  

Dividends on preferred stock

      (2 )     (6 )
                

Adjusted earnings

    $ 155     $ 129  
                

Fixed charges:

     

Interest on indebtedness and amortization of deferred financing costs

    $ 94     $ 91  

Capitalized interest

      2       1  

Dividends on preferred stock

      2       6  

Portion of rents representative of the interest factor

      11       11  
                

Total fixed charges and preferred stock dividends

    $ 109     $ 109  
                

Ratio of earning to fixed charges and preferred stock dividends

      1.42       1.18