EX-12.1 3 dex121.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Computation of Ratio of Earnings to Fixed Charges

Exhibit 12.1

Computation of Ratio of Earnings to Fixed Charges

(Dollar amounts in thousands)

 

    Sept. 24,
2006(1)
    Sept. 30,
2007(1)
    Sept. 28,
2008(1)
    Sept. 27,
2009(1)
    Sept. 26,
2010(1)
    Mar. 28,
2010(2)
    Mar. 27,
2011(2)
 

Earnings:

             

Income before income taxes

  $ 44,011      $ 82,674      $ 66,630      $ 54,250      $ 41,171      $ 12,678      $ 14,688   

Amortization of capitalized interest

    219        226        469        849        843        422        414   

Interest

    58,476        67,849        65,531        65,572        65,330        32,964        28,826   

Less interest capitalized during the period

    (4,276     (9,806     (11,261     (522     (16     (16     (88

Net amortization of debt discount and premium and issuance expense

    3,038        5,496        3,193        3,202        3,202        1,614        4,872   

Interest portion of rental expense

    23,681        21,762        23,021        25,319        26,891        13,526        13,553   
                                                       

Earnings as adjusted

  $ 125,149      $ 168,201      $ 147,583      $ 148,670      $ 137,421      $ 61,188      $ 62,265   
                                                       

Fixed charges:

             

Interest

  $ 58,476      $ 67,849      $ 65,531      $ 65,572      $ 65,330      $ 32,964      $ 28,826   

Net amortization of debt discount and premium and issuance expense

    3,038        5,496        3,193        3,202        3,202        1,614        4,872   

Interest portion of rental expense

    23,681        21,762        23,021        25,319        26,891        13,526        13,553   
                                                       

Fixed charges

  $ 85,195      $ 95,107      $ 91,745      $ 94,093      $ 95,423      $ 48,104      $ 47,251   
                                                       

Ratio of Earnings to Fixed Charges

    1.47        1.77        1.61        1.58        1.44        1.27        1.32   
                                                       

 

(1) Fiscal years 2006, 2008, 2009 and 2010 were 52-week years while fiscal 2007 was a 53-week year
(2) Twenty-Six week periods