EX-12 4 d94687ex12.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT 12 FLEMING COMPANIES, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
FISCAL YEAR ENDED THE LAST SATURDAY IN DECEMBER 2001 2000 1999 1998 1997 ---------- ---------- ---------- ---------- ---------- (IN THOUSANDS OF DOLLARS) Earnings: Pretax income $ 62,799 $ (200,889) $ (62,581) $ (598,202) $ 82,685 Fixed charges, net 184,166 198,413 193,263 195,956 197,923 ---------- ---------- ---------- ---------- ---------- Total earnings $ 246,965 $ (2,476) $ 130,682 $ (402,246) $ 280,608 Fixed charges: Interest expense $ 165,534 $ 174,569 $ 165,180 $ 161,581 $ 162,506 Portion of rental charges deemed to be interest 18,134 23,331 27,626 33,948 35,050 Capitalized interest and debt issuance cost amortization 7,950 2,051 1,117 604 1,186 ---------- ---------- ---------- ---------- ---------- Total fixed charges $ 191,618 $ 199,951 $ 193,923 $ 196,133 $ 198,742 Deficiency $ 202,427 $ 63,241 $ 598,379 Ratio of earnings to fixed charges 1.29 (0.01) 0.67 (2.05) 1.41
"Earnings" consist of income from continuing operations before income taxes and fixed charges excluding capitalized interest. Capitalized interest amortized during the respective periods is added back to earnings. "Fixed charges, net" consist of interest expense, an estimated amount of rental expense which is deemed to be representative of the interest factor and amortization of capitalized interest and debt issuance cost. 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:
FISCAL YEAR ENDED THE LAST SATURDAY IN DECEMBER 2001 2000 1999 ---------- ---------- ---------- (IN THOUSANDS OF DOLLARS) Total adjusted earnings $ 341,071 $ 306,279 $ 261,757 Total fixed charges $ 191,618 $ 199,951 $ 193,923 Adjusted ratio of earnings to fixed charges 1.78 1.53 1.35