EX-12.1 14 d592931dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

The following table presents the computation of our ratio of earnings to fixed charges for each of the periods indicated (in thousands, except ratio).

 

     Fiscal Year Ended  
     September 28,
2013
    September 29,
2012
    September 24,
2011
     September 25,
2010
    September 26,
2009
 

Earnings:

       

(Loss) income before provision for income taxes

   $ (1,192,961   $ (61,661   $ 227,386       $ (54,991   $ (2,154,130

Fixed charges

     287,245        146,358        121,472         133,603        142,400   

Interest capitalized during the period

     —          —          —           (25     (372

Amortization of capitalized interest

     134        134        93         —          —     
  

 

 

   

 

 

   

 

 

    

 

 

   

 

 

 

Total (losses) earnings

   $ (905,582   $ 84,831      $ 348,951       $ 78,587      $ (2,012,102
  

 

 

   

 

 

   

 

 

    

 

 

   

 

 

 

Fixed charges:

       

Interest expense

   $ 281,075      $ 140,287      $ 114,846       $ 127,107      $ 134,957   

Interest capitalized during the period

     —          —          —           25        372   

Estimate of interest within rental expense

     6,170        6,071        6,626         6,471        7,071   
  

 

 

   

 

 

   

 

 

    

 

 

   

 

 

 

Total fixed charges

   $ 287,245      $ 146,358      $ 121,472       $ 133,603      $ 142,400   
  

 

 

   

 

 

   

 

 

    

 

 

   

 

 

 

Ratio of earnings to fixed charges (a)

     —          —          2.87         —          —     
  

 

 

   

 

 

   

 

 

    

 

 

   

 

 

 

For the purpose of calculating the ratio of earnings to fixed charges, earnings consist of our income (loss) before provision for income taxes plus our fixed charges. Fixed charges consist of interest expense, amortization of debt discount and debt issuance costs and an estimate of the interest portion of rental expense. Interest expense recorded on uncertain tax positions has been recorded in the provision for income taxes and therefore has been excluded from the calculation.

 

(a) In fiscal 2013, 2012, 2010 and, 2009 we incurred losses from pre-tax continuing operations, and as a result, our earnings were insufficient to cover our fixed charges by $1.19 billion, $61.5 million, $55.0 million and, $2.15 billion, respectively.