EX-12.1 7 d443350dex121.htm STATEMENTS RE COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Statements re Computation of Ratio of Earnings to Fixed Charges

Exhibit 12.1

COMPUTATION OF CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES

 

Our consolidated ratios of earnings to fixed charges for each of the periods indicated are as follows:

 

                                                                                                                                      
     Year
Ended
December  29,
2012
    Year
Ended
December  31,
2011
    Year
Ended
January 1,
2011
    Year
Ended
January 2,
2010
    Year
Ended
December  27,
2008
 

Income (loss) from continuing operations before income taxes

   $ (8.7   $ (144.2   $ 2.6      $ (57.8   $ (119.9

Interest capitalized during the period

     (1.5     (3.2     (2.1     (1.2     (5.4

Total fixed charges

     330.1        328.7        362.5        387.2        423.0   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted earnings

   $ 319.9      $ 181.3      $ 363.0      $ 328.2      $ 297.7   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Fixed Charges

          

Interest (income) expense

   $ 311.8      $ 307.6      $ 341.7      $ 358.5      $ 387.8   

Interest capitalized during the period

     1.5        3.2        2.1        1.2        5.4   

Interest portion of rent expense

     16.8        17.9        18.7        27.5        29.8   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Fixed Charges

   $ 330.1      $ 328.7      $ 362.5      $ 387.2      $ 423.0   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Ratio of earnings to fixed charges

     N/A        N/A        1.0        N/A        N/A   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Coverage deficiency

   $ 10.2      $ 147.4        —        $ 59.0      $ 125.3   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Rent expense, net of sublease income

   $ 50.4      $ 53.7      $ 56.1      $ 82.6      $ 89.5   

Interest factor

     33     33     33     33     33
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Interest in rent expense

   $ 16.8      $ 17.9      $ 18.7      $ 27.5      $ 29.8