EX-12 6 v55481exv12.htm EX-12 exv12
EXHIBIT 12
DOLE FOOD COMPANY, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In thousands, except for ratio data)
                                         
    Fiscal Years Ended  
    January 2,     January 3,     December 29,     December 30,     December 31,  
    2010     2009     2007     2006     2005  
Income (loss) from continuing operations before income taxes and equity earnings
   $ 97,670     $ 92,522     $ (36,194 )   $ (16,421 )   $ 86,715  
Distributed income of equity method investees
     180       271       439       1,478       2,040  
Fixed charges from continuing operations
     272,259       242,064       250,758       225,162       185,122  
 
                              
Earnings available for fixed charges
   $ 370,109     $ 334,857     $ 215,003     $ 210,219     $ 273,877  
 
                              
 
                                        
Fixed charges from continuing operations:
                                        
Interest expense
   $ 196,789     $ 169,799     $ 190,129     $ 169,719     $ 134,926  
Amortization of debt expense and discounts
     8,926       4,686       4,722       4,996       7,526  
Assumed interest element included in rent expense
     66,544       67,579       55,907       50,447       42,670  
 
                              
 
                                        
Total fixed charges from continuing operations
   $ 272,259     $ 242,064     $ 250,758     $ 225,162     $ 185,122  
 
                              
 
                                        
Ratio of earnings to fixed charges (A)
     1.36 X     1.38 X     0.86 X     0.93 X     1.48 X
 
(A)   Due to Dole’s loss from continuing operations in both 2007 and 2006, the ratio of earnings to fixed charges was less than 1:1. Dole would have needed to generate additional earnings of $35.8 million and $14.9 million to achieve a coverage ratio of 1:1 for 2007 and 2006, respectively.