EX-12 2 ex1210-k2012aramarkratioto.htm RATIO OF EARNINGS TO FIXED CHARGES EX 12 10-K 2012 ARAMARK Ratio to Earnings
Exhibit 12

ARAMARK CORPORATION AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (A)
(Unaudited)
(In thousands)

 
 
Fiscal Year
Ended
September 28, 2012
 
Fiscal Year
Ended
September 30, 2011
 
Fiscal Year
Ended
October 1, 2010
 
Fiscal Year
Ended
October 2, 2009
 
Fiscal Year
Ended
October 3, 2008(B)
 
Income (loss) from continuing operations before income taxes
 
$
180,470

 
$
121,949

 
$
32,986

 
$
(23,721
)
 
$
42,804

 
Fixed charges, excluding capitalized interest
 
467,381

 
501,175

 
509,344

 
540,999

 
576,645

 
Undistributed earnings of less than 50% owned affiliates
 
(21,423
)
 
(24,523
)
 
(22,114
)
 
(16,549
)
 
(13,888
)
 
Earnings, as adjusted
 
$
626,428

 
$
598,601

 
$
520,216

 
$
500,729

 
$
605,561

 
Interest expense
 
$
407,234

 
$
444,915

 
$
451,828

 
$
485,132

 
$
517,334

 
Portion of operating lease rentals representative of interest factor
 
59,133

 
56,033

 
57,467

 
55,267

 
59,311

 
Fixed charges
 
$
466,367

 
$
500,948

 
$
509,295

 
$
540,399

 
$
576,645

 
Ratio of earnings to fixed charges
 
1.3

x
1.2

x
1.0

x
0.9

x
1.1

x


(A)
For the purpose of determining the ratio of earnings to fixed charges, earnings include pretax income (loss) from continuing operations plus fixed charges (excluding capitalized interest). Fixed charges consist of interest on all indebtedness (including capitalized interest) plus that portion of operating lease rentals representative of the interest factor (deemed to be one-third of operating lease rentals). Prior periods have been adjusted to reflect Galls, LLC, as a discontinued operation.

(B)
Fiscal 2008 was a 53 week year.