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)
    June 27,
2010(2)
    June 26,
2011(2)
 

Earnings:

             

Income before income taxes

  $ 44,011      $ 82,674      $ 66,630      $ 54,250      $ 41,171      $ 31,293      $ 28,707   

Amortization of capitalized interest

    219        226        469        849        843        633        621   

Interest

    58,476        67,849        65,531        65,572        65,330        49,146        40,234   

Less interest capitalized during the period

    (4,276     (9,806     (11,261     (522     (16     (16     (233

Net amortization of debt discount and premium and issuance expense

    3,038        5,496        3,193        3,202        3,202        2,408        5,436   

Interest portion of rental expense

    23,681        21,762        23,021        25,319        26,891        20,389        20,737   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Earnings as adjusted

  $ 125,149      $ 168,201      $ 147,583      $ 148,670      $ 137,421      $ 103,853      $ 95,502   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Fixed charges:

             

Interest

  $ 58,476      $ 67,849      $ 65,531      $ 65,572      $ 65,330      $ 49,146      $ 40,234   

Net amortization of debt discount and premium and issuance expense

    3,038        5,496        3,193        3,202        3,202        2,408        5,436   

Interest portion of rental expense

    23,681        21,762        23,021        25,319        26,891        20,389        20,737   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Fixed charges

  $ 85,195      $ 95,107      $ 91,745      $ 94,093      $ 95,423      $ 71,943      $ 66,407   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Ratio of Earnings to Fixed Charges

    1.47        1.77        1.61        1.58        1.44        1.44        1.44   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

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