EX-12 17 ex12.txt RATIO OF EARNINGS TO FIXED CHARGES
EXHIBIT 12 Ratio of Earnings to Fixed Charges For Fiscal Years Ended 1997 - 2001 (000's) Fiscal Year Ended ----------------------------------------------------------------------- 11/25/01 11/26/00 11/28/99 11/29/98 11/30/97 ----------------------------------------------------------------------- Fixed Charges: Interest: Interest expense (includes amortization of debt discount and costs) $ 230,772 $ 234,098 $ 182,978 $ 178,035 $ 212,358 Capitalized debt costs 49,730 34,769 15,729 27,447 25,221 Interest factor in rental expense 24,652 26,026 28,700 26,733 32,600 ----------------------------------------------------------------------- Total fixed charges 305,154 294,893 227,407 232,215 270,179 ----------------------------------------------------------------------- Earnings: Income (loss) before income taxes 239,689 343,680 8,499 162,700 184,281 Add: Fixed charges 305,154 294,893 227,407 232,215 270,179 Subtract: Capitalized debt costs (49,730) (34,769) (15,729) (27,447) (25,221) ----------------------------------------------------------------------- Total Earnings 495,113 603,804 220,177 367,468 429,239 ----------------------------------------------------------------------- Ratio of Earnings to Fixed Charges 1.6 2.0 1.0 1.6 1.6 In computing the ratio of earnings to fixed charges: (1) earnings have been based on income from continuing operations before income taxes and fixed charges (exclusive of capitalized debt costs) and (2) fixed charges consist of interest and debt discount and cost expenses (including amounts capitalized) and the estimated interest portion of rents.