EX-12.1 6 d93208ex12-1.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT 12.1 Fleming Companies, Inc. Computation of Ratio of Earnings to Fixed Charges
40 Weeks Ended October 6, Sept 30, (Dollars in thousands) 2001 2000 Earnings: Pretax earnings (loss) $ 35,905 $ (139,230) Fixed charges, net 138,192 139,930 Total earnings $ 174,097 $ 700 Fixed charges: Interest expense $ 127,307 $ 131,659 Portion of rental charges deemed to be interest 10,425 7,876 Capitalized interest 5,739 440 Total fixed charges $ 143,471 $ 139,975 Deficiency $ (139,275) Ratio of earnings to fixed charges 1.21 .005
"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 October 6, Sept 30, 2001 2000 Total adjusted earnings $240,304 $211,172 Total adjusted fixed charges $140,638 $139,975 Adjusted ratio of earnings to fixed charges 1.71 1.51