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 10,
2010
    September 11,
2009
 

Loss from continuing operations before income taxes

   $ (145   $ (161

Add (deduct):

    

Fixed charges

     311        313   

Capitalized interest

     (2     (6

Amortization of capitalized interest

     5        4   

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

     5        36   

Distributions from equity investments

     2        1   

Dividends on preferred stock

     (4     (6

Issuance costs of redeemed preferred stock

     (4     —     
                

Adjusted earnings

   $ 168      $ 181   
                

Fixed charges:

    

Interest on indebtedness and amortization of deferred financing costs

   $ 268      $ 264   

Capitalized interest

     2        6   

Dividends on preferred stock

     4        6   

Issuance costs of redeemed preferred stock

     4        —     

Portion of rents representative of the interest factor

     33        37   
                

Total fixed charges and preferred stock dividends

   $ 311      $ 313   
                

Deficiency of earnings to fixed charges and preferred stock dividends

   $ (143   $ (132