EX-12 16 dex12.txt STATEMENTS RE: COMPUTATION OF RATIOS EXHIBIT 12
Ratio of Earnings to Fixed Charges For Fiscal Years Ended 1998 - 2002 (000's) Fiscal Year Ended ------------------------------------------------------------------ 11/24/2002 11/25/2001 11/26/2000 11/28/1999 11/29/1998 ------------------------------------------------------------------ Fixed Charges: Interest: Interest expense (includes amortization of debt discount and costs) $186,493 $230,772 $234,098 $182,978 $178,035 Capitalized debt costs 33,918 49,730 34,769 15,729 27,447 Interest factor in rental expense 25,402 24,652 26,026 28,700 26,733 ------------------------------------------------------------------ Total fixed charges 245,813 305,154 294,893 227,407 232,215 ------------------------------------------------------------------ Earnings: Income before income taxes 49,958 239,689 343,680 8,499 162,700 Add: Fixed charges 245,813 305,154 294,893 227,407 232,215 ------------------------------------------------------------------ Total Earnings $295,771 $544,843 $638,573 $235,906 $394,915 ------------------------------------------------------------------ Ratio of Earnings to Fixed Assets 1.2 1.8 2.2 1.0 1.7
For the purpose of computing the ratio of earnings to fixed charges, earnings are defined as income from continuing operations before income taxes plus fixed charges. Fixed charges are defined as the sum of interest on all indebtedness, amortization of debt issuance cost (including amounts capitalized) and that portion of rental expense which we believe to be representative of an interest factor. Page 1