EX-12.1 16 w57765ex12-1.txt COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES EXHIBIT 12.1 Computation of Ratios of Earnings to Fixed Charges (unaudited)
January 31, January 2, January 1, December 30, December 29, 1998 1999 2000 2000 2000 (53 weeks) (48 weeks) (52 weeks) (52 weeks) (52 weeks) ---------- ---------- ---------- ---------- ---------- (in millions of United States dollars, except ratios) Earnings available for fixed charges Income before income taxes, minority interest and equity income 0.5 (101.2) 16.7 47.2 63.5 Fixed charges 33.3 39.0 38.9 35.4 37.0 Minority interest in pre-tax income of subsidiaries that have not incurred fixed charges (0.2) 0.1 - - (0.4) ------------------------------------------------------------------------ 33.6 (62.1) 55.6 82.6 100.1 ------------------------------------------------------------------------ Fixed charges Interest expense (1) 28.9 35.1 35.8 32.1 33.8 Interest allocated to discontinued operations 1.8 0.9 0.3 - - Interest portion of lease expense 2.6 3.0 2.8 3.3 3.2 ------------------------------------------------------------------------ 33.3 39.0 38.9 35.4 37.0 ------------------------------------------------------------------------ Ratio of earnings to fixed charges 1.0x (1.6)x 1.4x 2.3x 2.7x ------------------------------------------------------------------------
(1) Includes amortization of deferred debt financing fees and original issue discount.