EX-12.1 7 c51555_ex12-1.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing

Exhibit 12.1

The Great Atlantic & Pacific Tea Company, Inc.
Statement of Computation of Ratios of Earnings to Fixed Charges
(Dollars in millions)
                                                 
   
28 Weeks
   
Fiscal Year
   
Fiscal Year
   
Fiscal Year
   
Fiscal Year
   
Fiscal Year
   
Ended
 
Ended
 
Ended
 
Ended
 
Ended
 
Ended
   
September 8,
 
February 24,
 
February 25,
 
February 26,
 
February 28,
 
February 22,
   
2007
 
2007
 
2006
 
2005
 
2004
 
2003
Earnings (Loss) from continuing operations and before taxes   $ 61     $ (45 )   $ 676     $ (81 )   $ (63 )   $ (37 )
Fixed charges     67       133       164       198       193       187  
Undistributed earnings adjustment     (8 )     (33 )     (3 )                  
       Earnings   $ 120     $ 55     $ 837     $ 117     $ 130     $ 150  
 
Interest expense, including the amortization of debt discount and                                                
       expense on all indebtedness   $ 35     $ 74     $ 92     $ 114     $ 103     $ 100  
Estimate of the interest within rental expense     32       59       72       84       90       87  
       Fixed Charges   $ 67     $ 133     $ 164     $ 198     $ 193     $ 187  
 
Ratio earnings to fixed charges     1.8 x             5.1 x                        
 
Earnings deficiency           $ 78             $ 81     $ 63     $ 37  

Note:    Earnings consist of earnings before income taxes and fixed charges after eliminating net undistributed earnings of affiliates and minority interests which have not incurred fixed charges. Fixed charges consist of interest expense, including the amortization of debt discount and expense on all indebtedness, plus one-third of rent expense deemed to represent an appropriate interest factor.