EX-12.1 6 g85398exv12w1.txt EX-12.1 STATEMENT RE COMPUTATION OF RATIO EARNINGS . . . EXHIBIT 12.1 COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (in thousands)
AUGUST 31, AUGUST 30, AUGUST 25, AUGUST 26, AUGUST 28, 2003 2002 2001 2000 1999 (52 WEEKS) (53 WEEKS) (52 WEEKS) (52 WEEKS) (52 WEEKS) ---------- ---------- ---------- ---------- ---------- Earnings from continuing operations before income taxes.................. $833,007 $691,148 $287,026 $435,190 $387,783 Add: Fixed charges................................... 121,129 98,688 121,140 97,520 66,015 Deduct: Capitalized interest............................ 791 437 1,379 2,773 2,762 -------- -------- -------- -------- -------- Earnings.......................................... $953,345 $789,399 $406,787 $529,937 $451,036 ======== ======== ======== ======== ======== Fixed charges: Interest on indebtedness........................ 77,862 76,573 98,465 77,699 47,117 Amortization of debt expense.................... 8,773 3,893 4,202 2,209 1,206 Portion of rents representative of the interest factor............................ 34,494 18,222 18,473 17,612 17,692 -------- -------- -------- -------- -------- Total fixed charges............................... $121,129 $ 98,688 $121,140 $ 97520 $ 66,015 ======== ======== ======== ======== ======== Ratio of earnings to fixed charges.......................................... 7.9x 8.0x 3.4x (a) 5.4x 6.8x ======== ======== ======== ======== ========
(a) Income before income taxes for the fiscal year ended August 2001 reflects the impact of pretax restructuring and impairment charges of $156.8 million.