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 27,
2009
    March 21,
2008
 

Income (loss) from continuing operations before income taxes

   $ (91 )   $ 55  

Add (deduct):

    

Fixed charges

     104       100  

Capitalized interest

     (3 )     (3 )

Amortization of capitalized interest

     1       1  

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

     3       —    

Distributions from equity investments

     —         2  

Dividends on preferred stock

     (2 )     (2 )
                

Adjusted earnings

   $ 12     $ 153  
                

Fixed charges:

    

Interest on indebtedness and amortization of deferred financing costs

   $ 87     $ 83  

Capitalized interest

     3       3  

Dividends on preferred stock

     2       2  

Portion of rents representative of the interest factor

     12       12  
                

Total fixed charges and preferred stock dividends

   $ 104     $ 100  
                

Ratio of earning to fixed charges and preferred stock dividends

     —         1.5  

Deficiency of earnings to fixed charges and preferred stock dividends

   $ (92 )   $ —