EX-12.1 2 c78351exv12w1.htm EX.12.1 RATIO OF EARNINGS TO FIXED CHARGES Filed by Bowne Pure Compliance
Exhibit 12.1
Computation of Ratio of Earnings to Fixed Charges
(unaudited)
(in thousands, except ratios)
                 
    Twelve Weeks Ended  
    November 22,     November 17,  
    2008     2007  
Earnings
               
Income before income taxes
  $ 207,373     $ 209,313  
Fixed charges
    45,066       39,854  
Less: Capitalized interest
    (172 )     (287 )
 
           
Adjusted earnings
  $ 252,267     $ 248,880  
 
           
 
               
Fixed charges
               
Gross interest expense
  $ 31,920     $ 28,635  
Amortization of debt expense
    620       415  
Interest portion of rent expense
    12,526       10,804  
 
           
Total fixed charges
  $ 45,066     $ 39,854  
 
           
 
               
Ratio of earnings to fixed charges
    5.6       6.2  
 
           
                                         
    Fiscal Year Ended August  
    2008     2007     2006     2005     2004  
    (53 weeks)     (52 weeks)     (52 weeks)     (52 weeks)     (52 weeks)  
Earnings
                                       
Income before income taxes
  $ 1,007,389     $ 936,150     $ 902,036     $ 873,221     $ 905,902  
Fixed charges
    173,311       170,852       156,976       144,930       130,278  
Less: Capitalized interest
    (1,313 )     (1,376 )     (1,985 )     (1,079 )     (813 )
 
                             
Adjusted earnings
  $ 1,179,387     $ 1,105,626     $ 1,057,027     $ 1,017,072     $ 1,035,367  
 
                             
 
                                       
Fixed charges
                                       
Gross interest expense
  $ 120,006     $ 121,592     $ 110,568     $ 102,341     $ 89,600  
Amortization of debt expense
    1,837       1,719       1,559       2,343       4,230  
Interest portion of rent expense
    51,468       47,541       44,849       40,246       36,448  
 
                             
Total fixed charges
  $ 173,311     $ 170,852     $ 156,976     $ 144,930     $ 130,278  
 
                             
 
                                       
Ratio of earnings to fixed charges
    6.8       6.5       6.7       7.0       7.9