EX-12 4 0004.txt Exhibit 12 Fleming Companies, Inc. Computation of Ratio of Earnings to Fixed Charges
40 Weeks Ended September 30, October 02, (In thousands of dollars) 2000 1999 Earnings: Pretax loss $(139,230) $(55,200) Fixed charges, net 151,112 148,841 Total earnings $ 11,882 $ 93,641 Fixed charges: Interest expense $ 131,659 $127,240 Portion of rental charges deemed to be interest 19,058 21,251 Capitalized interest 440 428 Total fixed charges $ 151,157 $148,919 Deficiency $ 139,275 $ 55,278 Ratio of earnings to fixed charges 0.08 0.63
"Earnings" consists of income before income taxes and fixed charges excluding capitalized interest. Capitalized interest amortized during the respective periods is added back to earnings. "Fixed charges, net" consists of interest expense, an estimated amount of rental expense which is deemed to be representative of the interest factor and amortization of capitalized interest. The pro forma ratio of earnings to fixed charges is omitted, as it is not applicable. Under the company's long-term debt agreements, "earnings" and "fixed charges" are defined differently and amounts and ratios differ accordingly. Results excluding strategic plan adjustments and one-time items are as follows:
40 Weeks Ended September 30, October 02, (In thousands of dollars) 2000 1999 Total Earnings 222,354 195,346 Total Fixed Charges 151,157 148,919 Ratio of earnings to fixed charges 1.47 1.31