EX-12 14 b311659_ex12.txt STATEMENT RE: COMPUTATION OF RATIOS EXHIBIT 12 RITE AID CORPORATION AND SUBSIDIARIES STATEMENT REGARDING COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES Years Ended March 3, 2001, February 26, 2000, and February 27, 1999 (dollars in thousands)
2001 2000 1999 ----------- ----------- --------- Fixed Charges: Interest Expense......................................................................... $ 649,926 $ 542,028 $ 274,826 Interest Portion of Net Rental Expense (1)............................................... 159,066 146,852 139,104 ----------- ----------- --------- Fixed Charges Before Capitalized Interest and Preferred Stock Dividend Requirements...... 808,992 688,880 413,930 Preferred Stock Dividend Requirement (2)................................................. 42,445 15,554 965 Capitalized Interest..................................................................... 1,836 5,292 7,069 ----------- ----------- --------- Total Fixed Charges...................................................................... $ 853,273 $ 709,726 $ 421,964 ----------- ----------- --------- Earnings: Loss From Continuing Operations Before Income Taxes and Cumulative Effect of Accounting Change................................................................................. $(1,282,807) $(1,123,296) $(665,040) Share of Loss From Equity Method Investees............................................... 36,675 15,181 448 Fixed Charges Before Capitalized Interest................................................ 851,437 704,434 414,895 ----------- ----------- --------- Total Adjusted Earnings.................................................................. (394,695) (403,681) (249,697) ----------- ----------- --------- Earnings to Fixed Charges, Deficiency.................................................... $(1,247,968) $(1,113,407) $(671,661) =========== =========== =========
--------------- (1) The Interest Portion of Net Rental Expense is estimated to be equal to one-third of the minimum rental expense for the period. (2) The Preferred Stock Dividend Requirement is computed as the pre-tax earnings that would be required to cover preferred stock dividends.