EX-12.1 2 a05-1569_1ex12d1.htm EX-12.1

EXHIBIT 12.1

 

STATEMENT OF COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

 

 

 

VI Acquisition Corp.

 

Midway Investors Holdings Inc.

 

(In thousands)

 

Year ended
October 28,
2004

 

Period ended
October 26,
2003

 

Period ended
June 13,
2003

 

Year ended
October 27,
2002

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

Add:

 

 

 

 

 

 

 

 

 

Interest capitalized and expensed

 

$

14,132

 

$

6,278

 

$

9,262

 

$

9,635

 

Amortized premiums, discounts and capitalized expenses related to indebtedness

 

5,317

 

332

 

4,012

 

1,097

 

Estimate of interest expense within rental expense

 

9,647

 

4,999

 

5,408

 

8,315

 

Total fixed charges

 

$

29,096

 

$

11,609

 

$

18,682

 

$

19,047

 

 

 

 

 

 

 

 

 

 

 

Earnings:

 

 

 

 

 

 

 

 

 

Add:

 

 

 

 

 

 

 

 

 

Pre-tax income (loss) from continuing operations

 

$

334

 

$

289

 

$

(4,181

)

$

16,038

 

Fixed charges

 

29,096

 

11,609

 

18,682

 

19,047

 

Subtract:

 

 

 

 

 

 

 

 

 

Interest capitalized

 

55

 

23

 

92

 

—

 

Total earnings

 

$

29,375

 

$

11,875

 

$

14,409

 

$

35,085

 

Ratio of earnings to fixed charges

 

1.0

 

1.0

 

—

(1)

1.8

 

Amount by which earnings were insufficient to cover fixed charges

 

$

—

 

$

—

 

$

 4,273

 

$

—

 

 

(1)   For the period from October 28, 2002 to June 13, 2003, the ratio of earnings to fixed charges was less that 1.0. As a result, we have disclosed a calculation of the coverage deficiency.