EX-12.1 6 dex121.htm EXHIBIT 12.1 Exhibit 12.1

Exhibit 12.1

Computation of Ratios of Earnings to Fixed Charges

 

     Dollars in thousands  
    

Quarter Ended

4/1/07

     Fiscal Years Ended  
       12/31/06     12/25/05     12/26/04     12/28/03     12/29/02  

Earnings Available for Fixed Charges:

             

Income from continuing operations before income taxes, as adjusted

    $ 322,740     $ 1,702,572     $ 1,837,121     $ 1,980,161     $ 1,826,781     $ 1,730,576  

Add: fixed charges

      78,558       312,397       235,786       165,180       161,518       167,010  

Add: amortization of capitalized interest

      521       2,276       2,180       2,012       2,006       1,962  

Add: distributed income of equity investees

      8,106       50,981       10,091       12,259       14,016       13,500  

Less: interest capitalized

      (30 )     (2,024 )     (3,162 )     (4,802 )     (3,355 )     (2,074 )
                                                

Adjusted Earnings

    $ 409,895     $ 2,066,202     $ 2,082,016     $ 2,154,810     $ 2,000,966     $ 1,910,974  
                                                

Fixed Charges:

             

Interest on indebtedness, excluding capitalized interest

    $ 72,945       288,040     $ 210,625     $ 140,647     $ 139,271     $ 146,359  

Capitalized interest

      30       2,024       3,162       4,802       3,355       2,074  

Portion of rents representative of interest factor

      5,583       22,333       21,999       19,731       18,892       18,577  
                                                

Fixed Charges

    $ 78,558     $ 312,397     $ 235,786     $ 165,180     $ 161,518     $ 167,010  
                                                

Ratio of Earnings to Fixed Charges

      5.2       6.6       8.8       13.0       12.4       11.4