EX-12.2 3 a2167404zex-12_2.htm EX-12.2

Exhibit 12.2

OFFICEMAX INCORPORATED AND SUBSIDIARIES
Ratio of Earnings to Combined Fixed Charges
and Preferred Dividend Requirements

 
  Year Ended December 31
 
 
  2005
  2004
  2003
  2002
  2001
 
 
   
  (thousands, except ratios)

   
 
Interest costs   $ 141,455   $ 155,689   $ 134,930   $ 133,762   $ 129,917  
Interest capitalized during the period         28     391     3,937     1,945  
Interest factor related to noncapitalized leases(a)     120,989     130,229     15,974     11,128     11,729  
   
 
 
 
 
 
Total fixed charges     262,444     285,946     151,295     148,827     143,591  
Preferred stock dividend requirements—pretax     4,378     12,211     13,864     14,548     15,180  
   
 
 
 
 
 
Combined fixed charges and preferred dividend requirements   $ 266,822   $ 298,157   $ 165,159   $ 163,375   $ 158,771  
   
 
 
 
 
 
Income (loss) from continuing operations before income taxes, minority interest, and cumulative effect of accounting changes   $ (37,616 ) $ 379,442   $ 49,240   $ 1,352   $ (42,113 )
Undistributed (earnings) losses of less than 50% owned entities, net of distributions received     (5,104 )   (6,211 )   (8,695 )   2,435     8,039  
Total fixed charges     262,444     285,946     151,295     148,827     143,591  
Less interest capitalized         (28 )   (391 )   (3,937 )   (1,945 )
   
 
 
 
 
 
Total earnings before fixed charges   $ 219,724   $ 659,149   $ 191,449   $ 148,677   $ 107,572  
   
 
 
 
 
 
Ratio of earnings to combined fixed charges and preferred dividend requirements         2.21     1.16          
Excess of combined fixed charges and preferred dividend requirements over total earnings before fixed charges   $ 47,098   $   $   $ 14,698   $ 51,199  

(a)
Interest expense for operating leases with terms of one year or longer is based on an imputed interest rate for each lease.