EX-12 6 ex12.txt Exhibit 12 Fleming Companies, Inc. Computation of Ratio of Earnings to Fixed Charges
16 Weeks Ended -------------- April 21, April 15, (Dollars in thousands) 2001 2000 ---------------------- ---- ---- Earnings: Pretax earnings (loss) $ 27,209 $(43,265) Fixed charges, net 62,290 61,135 Total earnings $ 89,499 $ 17,870 Fixed charges: Interest expense $ 57,502 $ 53,101 Portion of rental charges deemed to be interest 4,604 7,876 Capitalized interest 409 185 Total fixed charges $ 62,515 $ 61,162 Deficiency - $ 43,292 Ratio of earnings to fixed charges 1.43 .29
"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:
16 Weeks Ended -------------- April 21, April 15, 2001 2000 ---- ---- Total adjusted earnings $89,111 $81,703 Total adjusted fixed charges $59,682 $61,162 Adjusted ratio of earnings to fixed charges 1.49 1.34