EX-12.1 2 v50834exv12w1.htm EX-12.1 exv12w1
Exhibit 12.1
Computation of Ratio of Earnings to Fixed Charges
(Dollar amounts in thousands)
                                         
    Sept. 26,     Sept. 25,     Sept. 24,     Sept. 30,     Sept. 28,  
    2004(1)(2)     2005(2)     2006(2)     2007(2)     2008(2)  
Earnings:
                                       
Income before income taxes
  $ 111,140     $ 39,908     $ 44,011     $ 82,674     $ 66,630  
 
                                       
Amortization of capitalized interest
    302       251       219       226       469  
 
                                       
Interest
    78,790       55,211       58,476       67,849       65,531  
 
                                       
Less interest capitalized during the period
    (323 )     (1,111 )     (4,276 )     (9,806 )     (11,261 )
 
                                       
Net amortization of debt discount and premium and issuance expense
    11,321       3,042       3,038       5,496       3,193  
 
                                       
Interest portion of rental expense
    23,979       25,461       23,681       21,762       23,021  
 
                             
Earnings as adjusted
  $ 225,209     $ 122,762     $ 125,149     $ 168,201     $ 147,583  
 
                             
 
                                       
Fixed charges:
                                       
Interest
  $ 78,790     $ 55,211     $ 58,476     $ 67,849     $ 65,531  
 
                                       
Net amortization of debt discount and premium and issuance expense
    11,321       3,042       3,038       5,496       3,193  
 
                                       
Interest portion of rental expense
    23,979       25,461       23,681       21,762       23,021  
 
                             
Fixed charges
  $ 114,090     $ 83,714     $ 85,195     $ 95,107     $ 91,745  
 
                             
 
                                       
Ratio of Earnings to Fixed Charges
    1.97       1.47       1.47       1.77       1.61  
 
                             
 
(1)   Fiscal 2004 includes the Company’s 50% share of Santee through February 6, 2004. Santee has been consolidated into the Company’s consolidated results since that date.
 
(2)   Fiscal years 2004, 2005, 2006 and 2008 were 52-week years while fiscal 2007 was a 53-week year.