EX-12.1 16 dex121.htm STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Statement of Computation of Ratio of Earnings to Fixed Charges

Exhibit 12.1

Statement of Computation of Ratio of Earnings to Fixed Charges

(in thousands, except ratios)

 

        Six Month Ended         Fiscal Year Ended  
    May 1, 2010     May 2, 2009       October 31,  
2009
      October 25,  
2008
      October 27,  
2007
      October 28,  
2006
      October 29,  
2005
 
Earnings (loss) from continuing operations before taxes (1)   $ 73,911      $ (95,788   $ (74,025   $ 22,741      $ 140,034      $ 98,352      $ 55,198   
Adjustments:              
Add fixed charges     52,190        59,416        115,668        24,201        16,454        10,698        11,271   
Less capitalized interest     (7,035     (4,044     (9,093     (1,439                     
                                                       
Total fixed charges from continuing operations     45,155        55,372        106,575        22,762        16,454        10,698        11,271   
                                                       
Earnings (loss) before taxes and fixed charges, net of capitalized interest   $ 119,066      $ (40,416   $ 32,550      $ 45,503      $ 156,488      $ 109,050      $ 66,469   
                                                       
Fixed charges:              
Interest expense (1)     41,595        51,653        99,294        17,249        11,295        7,082        7,693   
Capitalized interest     7,035        4,044        9,093        1,439                        
Interest component of rent expense     3,560        3,719        7,281        5,513        5,159        3,616        3,578   
                                                       
Total fixed charges from continuing operations     52,190        59,416        115,668        24,201        16,454        10,698        11,271   
                                                       
Ratio of earnings (loss) to fixed charges (2)     2.3     (0.7 )x      0.3     1.9     9.5     10.2     5.9
Coverage deficiency   $      $ 99,832      $ 83,118      $      $      $      $   
                                                       

 

(1) As adjusted due to changes to the accounting for convertible debt instruments

 

(2) The ratio of earnings (loss) to fixed charges was computed by dividing earnings from continuing operations before taxes and fixed charges, net of capitalized interest, by total fixed charges from continuing operations for the periods indicated. Fixed charges from continuing operations include (i) interest expense and capitalization and amortization of debt discount and issuance costs on all indebtedness and (ii) one-third of all rental expense, which the Company considers to be a reasonable approximation of the interest factor included in rental expense.