EX-12 3 l24092aexv12.htm EX-12 EX-12
 

Exhibit 12
RATIO OF EARNINGS TO FIXED CHARGES
The following table sets forth our ratio of earnings to fixed charges for the periods indicated:
                                         
    Fiscal     Fiscal     Fiscal     Fiscal     Fiscal  
    2006     2005     2004     2003     2002  
Earnings
                                       
Income from continuing operations before taxes
  $ 187,685     $ 121,634     $ 114,841     $ 87,346     $ 63,562  
Fixed charges
    78,692       77,750       55,512       33,858       30,914  
 
                             
Total earnings
  $ 266,377     $ 199,384     $ 170,353     $ 121,204     $ 94,476  
 
                             
 
                                       
Fixed Charges
                                       
Interest expense, net
  $ 10,025     $ 12,959     $ 8,009     $ 1,831     $ 2,864  
 
Portion of rent expense representative of interest
    68,667       64,791       47,503       32,027       28,050  
 
                             
Total fixed charges
  $ 78,692     $ 77,750     $ 55,512     $ 33,858     $ 30,914  
 
                             
 
                                       
Ratio of earnings to fixed charges
    3.39       2.56       3.07       3.58       3.06  
 
                             
For purposes of calculating the ratios,
(1) earnings include income from continuing operations before income taxes, fixed charges and a reduction for preference dividend to earnings; and
(2) fixed charges are interest expense incurred, amortization of debt expense and discount or premium related to any indebtedness, the interest component of rent and preference dividend to earnings.
The ratio of earnings to fixed charges is calculated as follows:
     
 
(Earnings) + (Fixed Charges)
 
     
  (Fixed Charges)  

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