EX-12 2 dex12.htm COMPUTATION OF EARNINGS TO FIXED CHARGES RATIO Computation of Earnings to Fixed Charges Ratio

Exhibit 12

 

COMPUTATION OF EARNINGS TO FIXED CHARGES RATIO

FROM CONTINUING OPERATIONS

(IN THOUSANDS OF DOLLARS, EXCEPT RATIO DATA)

 

     Three Quarters Ended
     Year Ended
  
     Sep 25,
2005
     Sep 26,
2004
     Dec 26,
2004
     Dec 28,
2003
     Dec 29,
2002
     Dec 30,
2001
     Dec 31,
2000
  

Fixed Charges Computation

                                                         

Net Interest Expense

    $ 57,081     $ 32,954     $ 49,850     $ 68,715     $ 74,251     $ 98,872     $ 114,422  

Plus Capitalized Interest

      5,067       3,500       4,746       2,079       718       1,961       2,230  
    
 
 
 
 
 
 

Gross Interest Expense

      62,148       36,454       54,596       70,794       74,969       100,833       116,652  

Proportionate Share of Interest

                                                         

Expense of 50% owned persons

      —         —         —         —         —         —         —    

Interest component of Rent

      5,935       6,105       8,179       8,219       8,066       8,678       8,763  
    
 
 
 
 
 
 
Total Fixed Charges    $ 68,083     $ 42,559     $ 62,775     $ 79,013     $ 83,035     $ 109,511     $ 125,415  
    
 
 
 
 
 
 
Earnings Computation                                                         

Pre-tax earnings from continuing operations

    $ 256,906     $ 306,723     $ 456,389     $ 424,820     $ 412,070     $ 278,820     $ 477,803  

Add: Fixed Charges

      68,083       42,559       62,775       79,013       83,035       109,511       125,415  
    
 
 
 
 
 
 
     $ 324,989     $ 349,282     $ 519,164     $ 503,833     $ 495,105     $ 388,331     $ 603,218  

Less: Capitalized Interest

      (5,067 )     (3,500 )     (4,746 )     (2,079 )     (718 )     (1,961 )     (2,230 )

Add: Distributions in excess of (lessthan) earnings of investee

      (31,081 )     (15,471 )     (25,674 )     (23,855 )     39,608       19,624       (36,353 )
    
 
 
 
 
 
 

Total Earnings as Adjusted

    $ 288,841     $ 330,311     $ 488,744     $ 477,899     $ 533,995     $ 405,994     $ 564,635  
    
 
 
 
 
 
 

Ratio of Earnings to Fixed Charges

      4.2:1       7.8:1       7.8:1       6.0:1       6.4:1       3.7:1       4.5:1  
    
 
 
 
 
 
 

 

 

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