EX-12 7 l29837aexv12.htm EX-12 EX-12
 

Exhibit 12
RATIO OF EARNINGS TO FIXED CHARGES
The following table sets forth our ratio of earnings to fixed charges for the periods indicated:
                                         
    Fiscal     Fiscal     Fiscal     Fiscal     Fiscal  
    2007     2006     2005     2004     2003  
Earnings
                                        
Income from continuing operations before taxes
   $ 257,527     $ 187,685     $ 121,634     $ 114,841     $ 87,346  
Fixed charges
     43,390       34,720       36,609       25,283       13,477  
 
                              
Total earnings
   $ 300,917     $ 222,405     $ 158,243     $ 140,124     $ 100,823  
 
                              
 
                                        
Fixed Charges
                                        
Interest expense, net
   $ 11,290     $ 10,025     $ 12,959     $ 8,009     $ 1,831  
 
                                        
Portion of rent expense representative of interest
     32,100       24,695       23,650       17,274       11,646  
 
                              
Total fixed charges
   $ 43,390     $ 34,720     $ 36,609     $ 25,283     $ 13,477  
 
                              
 
                                        
Ratio of earnings to fixed charges
     6.94       6.41       4.32       5.54       7.48  
 
                              
For purposes of calculating the ratios,
(1) earnings include income from continuing operations before income taxes, fixed charges and a reduction for preference dividend to earnings; and
(2) fixed charges are interest expense incurred, amortization of debt expense and discount or premium related to any indebtedness, the interest component of rent and preference dividend to earnings.
The ratio of earnings to fixed charges is calculated as follows:
(Earnings) + (Fixed Charges)
(Fixed Charges)

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