EX-12.1 3 exhibit12.htm EXHIBIT 12.1 Exhibit

Exhibit 12.1

Statement regarding computation of ratio of earnings to fixed charges
Ratio Of Earnings to Fixed Charges

 
Nine months ended
 
Year ended
 
December 31,
 
January 2,
 
April 2,
 
March 28,
 
March 29,
 
March 30,
 
March 31,
(In thousands)
2016
 
2016
 
2016
 
2015
 
2014
 
2013
 
2012
Fixed Charges
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest Expensed
$
31,032

 
$
31,032

 
$
41,375

 
$
41,375

 
$
37,025

 
$
37,301

 
$
37,301

Interest Capitalized

 

 

 

 

 

 

Amortized Premiums

 

 

 

 

 

 

Amortized Discounts
9,053

 
9,034

 
12,047

 
12,022

 
16,319

 
15,880

 
15,545

Amortization of Fair Value of Derivative at Inception

 

 

 

 
58

 
58

 
58

Capitalized Expenses Related to Indebtedness
1,525

 
1,525

 
2,034

 
2,034

 
1,723

 
1,671

 
1,671

Estimate of Interest within Rental Expense
315

 
295

 
397

 
435

 
449

 
280

 
248

Preference Security Dividend

 

 

 

 

 

 

Total Fixed Charges
$
41,925

 
$
41,886

 
$
55,853

 
$
55,866

 
$
55,574

 
$
55,190

 
$
54,823

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings
 
 
 
 
 
 
 
 
 
 
 
 
 
+ Pretax Income from Continuing Operations
$
519,860

 
$
466,988

 
$
636,825

 
$
740,076

 
$
709,526

 
$
547,006

 
$
597,051

+ Fixed Charges
41,925

 
41,886

 
55,853

 
55,866

 
55,574

 
55,190

 
54,823

+ Amortization of Capitalized Interest

 

 

 

 

 

 

+ Distributed Income of Equity Investee

 

 

 

 

 

 

+ Pretax Losses of Equity Investee

 

 

 

 

 

 

- Interest Capitalized

 

 

 

 

 

 

- Preference Securities Dividend of Consolidated Subsidiaries

 

 

 

 

 

 

- Minority Interest in Pretax Income of Subsidiaries          

 

 

 

 

 

 

Total Earnings
$
561,785

 
$
508,874

 
$
692,678

 
$
795,942

 
$
765,100

 
$
602,196

 
$
651,874

 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings to Fixed Charges Ratio
13.4

 
12.1

 
12.4

 
14.2

 
13.8

 
10.9

 
11.9