EX-12 6 d96211ex12.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 1997 1998 1999 2000 2001 ---------- ---------- ---------- ---------- ---------- (IN THOUSANDS OF DOLLARS) Earnings: Pretax income $ 82,685 $ (598,202) $ (62,581) $ (200,889) $ 62,799 Fixed charges, net 197,923 195,956 193,263 198,413 184,166 ---------- ---------- ---------- ---------- ---------- Total earnings $ 280,608 $ (402,246) $ 130,682 $ (2,476) $ 246,965 Fixed charges: Interest expense $ 162,506 $ 161,581 $ 165,180 $ 174,569 $ 165,534 Portion of rental charges deemed to be interest 35,050 33,948 27,626 23,331 18,134 Capitalized interest and debt issuance cost amortization 1,186 604 1,117 2,051 7,950 ---------- ---------- ---------- ---------- ---------- Total fixed charges $ 198,742 $ 196,133 $ 193,923 $ 199,951 $ 191,618 Deficiency $ 598,379 $ 63,241 $ 202,427 Ratio of earnings to fixed charges 1.41 (2.05) 0.67 (0.01) 1.29
"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 1999 2000 2001 -------- -------- -------- (IN THOUSANDS OF DOLLARS) Total adjusted earnings $261,757 $306,279 $341,071 Total fixed charges $193,923 $199,951 $191,618 Adjusted ratio of earnings to fixed charges 1.35 1.53 1.78