EX-12.1 4 dex121.htm EXHIBIT 12.1 Exhibit 12.1

EXHIBIT 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

AND PREFERRED STOCK DIVIDENDS

(in millions, except ratio amounts)

 

     Year-to-date ended  
     June 19,
2009
    June 13,
2008
 

Income (loss) from continuing operations before income taxes

   $ (131   $ 247   

Add (deduct):

    

Fixed charges

     202        205   

Capitalized interest

     (5     (6

Amortization of capitalized interest

     3        3   

Equity in (earnings)/losses related to certain 50% or less owned affiliates

     34        (2

Distributions from equity investments

     1        3   

Dividends on preferred stock

     (4     (4
                

Adjusted earnings

   $ 100      $ 446   
                

Fixed charges:

    

Interest on indebtedness and amortization of deferred financing costs

   $ 169      $ 171   

Capitalized interest

     5        6   

Dividends on preferred stock

     4        4   

Portion of rents representative of the interest factor

     24        24   
                

Total fixed charges and preferred stock dividends

   $ 202      $ 205   
                

Ratio of earning to fixed charges and preferred stock dividends

     —          2.2   

Deficiency of earnings to fixed charges and preferred stock dividends

   $ (102   $ —