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  
     June 18,
2010
    June 19,
2009
 

Loss from continuing operations before income taxes

   $ (78   $ (69

Add (deduct):

    

Fixed charges

     210        202   

Capitalized interest

     (1     (5

Amortization of capitalized interest

     3        3   

Equity in (earnings)/losses related to certain 50% or less owned affiliates

     5        34   

Distributions from equity investments

     2        1   

Dividends on preferred stock

     (4     (4

Issuance costs of redeemed preferred stock

     (4     —     
                

Adjusted earnings

   $ 133      $ 162   
                

Fixed charges:

    

Interest on indebtedness and amortization of deferred financing costs

   $ 179      $ 169   

Capitalized interest

     1        5   

Dividends on preferred stock

     4        4   

Issuance costs of redeemed preferred stock

     4        —     

Portion of rents representative of the interest factor

     22        24   
                

Total fixed charges and preferred stock dividends

   $ 210      $ 202   
                

Deficiency of earnings to fixed charges and preferred stock dividends

   $ (77   $ (40