EX-12.1 2 c62333exv12w1.htm EX-12.1 exv12w1
Exhibit 12.1
Ratio of Earnings to Fixed Charges
(In millions, except ratios)
(unaudited)
                                         
    Fiscal years ended  
    February 26,     February 27,     February 28,     February 23,     February 25,  
    2011     2010     2009     2008     2007  
    (52 weeks) (1)     (52 weeks)     (53 weeks) (2)     (52 weeks)     (52 weeks)  
Earnings (loss) before income taxes
   $ (1,523 )   $ 632     $ (2,779 )   $ 977     $ 747  
Net overdistributed earnings of less than fifty percent owned affiliates
     —       —       —       1       5  
Interest expense
     554       576       633       725       600  
Interest on operating leases
     162       182       190       184       155  
 
                              
Earnings (loss)
   $ (807 )   $ 1,390     $ (1,956 )   $ 1,887     $ 1,507  
 
                              
 
                                        
Fixed charges
   $ 716     $ 758     $ 823     $ 909     $ 755  
 
                              
 
                                        
Ratio of earnings to fixed charges
     (1.13 )     1.83       (2.38 )     2.08       2.00  
 
                              
 
(1)   The Company’s loss is insufficient to cover fixed charges by $1,523 for fiscal 2011 due to the Company recording non-cash goodwill and intangible asset impairment charges of $1,870, before tax.
 
(2)   The Company’s loss is insufficient to cover fixed charges by $2,779 for fiscal 2009 due to the Company recording non-cash goodwill and intangible asset impairment charges of $3,524, before tax.