EX-12.1 3 ex12-1.htm EXHIBIT 12.1 ex12-1.htm
Exhibit 12.1

 
Computation of Ratio of Earning to Fixed Charges
 

(In thousands, except ratio)
         Years Ended        
   
December 31,
    
December 25,
    
December 26,
    
December 27,
    
December 28,
  
   
2012
    
2011
    
2010
    
2009
    
2008
  
Pretax income from continuing operations less income/loss from equity investments
   $ (26,269 )   $ (36,606 )   $ (28,502 )   $ (83,754 )   $ (436,838 )
Fixed charges
     78,856       65,686       66,357       42,937       43,317  
Amortization of capitalized interest
     186       159       82       32       32  
Less: Capitalized interest
     -       (450 )     (44 )     (194 )     (128 )
Earnings
   $ 52,773     $ 28,789     $ 37,893     $ (40,979 )   $ (393,617 )
                                         
Interest expensed and capitalized (including amortization of premiums/discounts)
   $ 78,034     $ 64,853     $ 65,641     $ 42,165     $ 42,495  
Interest portion of rental expense
     822       833       716       772       822  
Fixed Charges
   $ 78,856     $ 65,686     $ 66,357     $ 42,937     $ 43,317  
                                         
Ratio of Earnings to Fixed Charges
     0.67       0.44       0.57       **       **  
 
**
Earnings do not cover fixed charges by $84 million and $437 million for the fiscal years ended December 27, 2009, and December 28, 2008, respectively, due to non-cash impairment charges of $49 million and $397 million in the respective periods.