EX-12.1 2 v060250_ex12-1.htm Unassociated Document

Exhibit 12.1

 

Computation of Ratio of Earnings to Fixed Charges
(unaudited)
(in thousands, except ratios)
 
   
Twelve Weeks Ended
  
   
November 18,
  
November 19,
  
   
2006
  
2005
  
Earnings
          
Income before income taxes
  
$
195,903
  
$
181,554
  
Fixed charges
    
37,945
   
34,310
 
Less: Capitalized interest
    
(331
)
  
(407
)
Adjusted earnings
  
$
233,517
  
$
215,457
  
               
Fixed charges
              
Gross interest expense
  
$
27,613
  
$
24,135
  
Amortization of debt expense
    
409
   
362
 
Interest portion of rent expense
    
9,923
   
9,813
 
Total fixed charges
  
$
37,945
  
$
34,310
  
               
Ratio of earnings to fixed charges
    
6.2
   
6.3
 
 
 
   
Fiscal Year Ended August
  
   
2006
  
2005
  
2004
  
2003
  
2002
  
   
(52 weeks)
  
(52 weeks)
  
(52 weeks)
  
(52 weeks)
  
(53 weeks)
  
Earnings
                      
Income before income taxes
  
$
902,036
  
$
873,221
  
$
905,902
  
$
833,007
  
$
691,148
  
Fixed charges
    
156,976
    
144,930
   
130,278
   
121,129
   
98,688
 
Less: Capitalized interest
    
(1,985
)
  
(1,079
)
  
(813
)
  
(791
)
  
(437
)
Adjusted earnings
  
$
1,057,027
  
$
1,017,072
  
$
1,035,367
  
$
953,345
  
$
789,399
  
                                 
Fixed charges
                                
Gross interest expense
  
$
110,568
  
$
102,341
  
$
89,600
  
$
79,301
  
$
78,183
  
Amortization of debt expense
    
1,559
    
2,343
   
4,230
   
7,334
   
2,283
 
Interest portion of rent expense
    
44,849
    
40,246
   
36,448
   
34,494
   
18,222
 
Total fixed charges
  
$
156,976
  
$
144,930
  
$
130,278
  
$
121,129
  
$
98,688
  
                                 
Ratio of earnings to fixed charges
    
6.7
    
7.0
    
7.9
   
7.9
   
8.0