EX-12 9 knight-ex12.txt EXHIBIT 12 Exhibit 12 COMPUTATION OF EARNINGS TO FIXED CHARGES RATIO Exhibit 12 FROM CONTINUING OPERATIONS (IN THOUSANDS OF DOLLARS, EXCEPT RATIO DATA)
YEAR ENDED -------------------------------------------------------------------------------- December 30, December 31, December 26, December 27, December 28, 2001 2000 1999 1998 1997 ------------ ------------ ------------ ------------ ------------ FIXED CHARGES COMPUTATION INTEREST EXPENSE: NET INTEREST EXPENSE $ 98,872 $ 114,422 $ 92,247 $ 101,420 $ 97,286 PLUS CAPITALIZED INTEREST 1,961 2,230 5,197 4,516 5,376 ------------ ------------ ------------ ------------ ------------ GROSS INTEREST EXPENSE 100,833 116,652 97,444 105,936 102,662 PROPORTIONATE SHARE OF INTEREST EXPENSE OF 50% OWNED PERSONS 1,948 INTEREST COMPONENT OF RENT EXPENSE 8,641 8,774 8,229 7,688 6,671 ------------ ------------ ------------ ------------ ------------ TOTAL FIXED CHARGES $ 109,474 $ 125,426 $ 105,673 $ 113,624 $ 111,281 ============ ============ ============ ============ ============ EARNINGS COMPUTATION PRETAX EARNINGS $ 307,399 $ 525,290 $ 568,015 $ 507,916 $ 693,852 ADD: FIXED CHARGES 109,474 125,426 105,673 113,624 111,281 LESS: CAPITALIZED INTEREST (1,961) (2,230) (5,197) (4,516) (5,376) LESS: DISTRIBUTIONS IN EXCESS OF (LESS THAN) EARNINGS OF INVESTEES 32,519 16,700 (8,934) (16,693) (7,675) ------------ ------------ ------------ ------------ ------------ TOTAL EARNINGS AS ADJUSTED $ 447,431 $ 665,186 $ 659,557 $ 600,331 $ 792,082 ============ ============ ============ ============ ============ RATIO OF EARNINGS TO FIXED CHARGES 4.1:1 5.3:1 6.2:1 5.3:1 7.1:1 ============ ============ ============ ============ ============