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)

 

     Year-to-Date ended  
     September 5,
2008		     September 7,
2007		  

Income from continuing operations before income taxes

    $ 291     $ 280  

Add (deduct):

     

Fixed charges

      290       359  

Capitalized interest

      (8 )     (6 )

Amortization of capitalized interest

      4       4  

Minority interest in consolidated affiliates

      19       21  

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

      (3 )     (5 )

Distributions from equity investments

      3       3  

Dividends on preferred stock

      (6 )     (6 )
                

Adjusted earnings

    $ 590     $ 650  
                

Fixed charges:

     

Interest on indebtedness and amortization of deferred financing costs

    $ 240     $ 312  

Capitalized interest

      8       6  

Dividends on preferred stock

      6       6  

Portion of rents representative of the interest factor

      36       35  
                

Total fixed charges and preferred stock dividends

    $ 290     $ 359  
                

Ratio of earning to fixed charges and preferred stock dividends

      2.0       1.8  

 

37