EX-12.1 14 dex121.htm STATEMENT RE CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES Statement re Calculation of Ratio of Earnings to Fixed Charges

Exhibit 12.1

Ratio of Earnings to Fixed Charges

(amounts in thousands)

 

     Fiscal Year Ended    May 29, 2005
to April 12,
   April 13, 2006
to June 3,
 
     2002    2003    2004    2005    2006    2006  

Earnings:

                 

Income (Loss) before Provision for Income Taxes

   $ 114,809    $ 113,332    $ 114,980    $ 172,251    $ 150,944    $ (36,982 )

Plus: Fixed Charges

     35,481      39,371      44,445      47,775      42,045      29,223  
                                           
   $ 150,290    $ 152,703    $ 159,425    $ 220,026    $ 192,989    $ (7,759 )
                                           

Fixed Charges:

                 

Gross Interest Expense

   $ 965    $ 2,779    $ 5,863    $ 7,132    $ 4,609    $ 18,093  

Amortization of Deferred Debt Charges

     31      31      75      98      495      5,283  

Estimate of Interest Expense Within Operating Leases

     34,485      36,561      38,507      40,545      36,941      5,847  
                                           
                 
   $ 35,481    $ 39,371    $ 44,445    $ 47,775    $ 42,045    $ 29,223  
                                           

Ratio of Earnings to Fixed Charges

     4.2x      3.9x      3.6x      4.6x      4.6x      *  
                                           

 

Three Months Ended

 

      August 27,
2005
    September 2,
2006
 

Earnings:

    

Income (Loss) before Provision for Income Taxes

   $ (25,949 )   $ (90,058 )

Plus: Fixed Charges

     12,255       48,667  
                
   $ (13,694 )   $ (41,391 )
                

Fixed Charges:

    

Gross Interest Expense

   $ 1,813     $ 35,414  

Amortization of Deferred Debt Charges

     24       2,544  

Estimate of Interest Expense Within Operating Leases

     10,418       10,709  
                
   $ 12,255     $ 48,667  
                

Ratio of Earnings to Fixed Charges

     *       *  

 

* Due to losses for the period, the coverage ratio was less than 1:1. BCFWC would have to generate additional pretax earnings of $37.0 million, $25.9 million and $90.1 million to achieve a ratio of 1:1 for the periods April 13, 2006 through June 3, 2006, three months ended August 27, 2005 and the three months ended September 2, 2006, respectively.