EX-12.2 5 a2182967zex-12_2.htm EXHIBIT 12.2
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Exhibit 12.2


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

 
  Fiscal Year Ended
 
 
  December 29,
2007

  December 30,
2006

  December 31,
2005

  December 31,
2004

  December 31,
2003

 
 
  (thousands, except ratios)

 
Interest costs   $ 121,271   $ 123,082   $ 141,455   $ 155,689   $ 134,930  
Interest capitalized during the period                 28     391  
Interest factor related to noncapitalized leases(a)     112,552     113,257     120,989     130,229     15,974  
   
 
 
 
 
 
Total fixed charges     233,823     236,339     262,444     285,946     151,295  
Preferred stock dividend requirements—pre-tax     3,961     4,037     4,378     12,211     13,864  
   
 
 
 
 
 
Combined fixed charges and preferred dividend requirements   $ 237,784   $ 240,376   $ 266,822   $ 298,157   $ 165,159  
   
 
 
 
 
 
Income (loss) from continuing operations before income taxes, minority interest, and cumulative effect of accounting changes   $ 337,527   $ 171,878   $ (37,616 ) $ 379,442   $ 49,240  
Undistributed (earnings) losses of less than 50% owned entities, net of distributions received     (6,065 )   (5,873 )   (5,104 )   (6,211 )   (8,695 )
Total fixed charges     233,823     236,339     262,444     285,946     151,295  
Less interest capitalized                 (28 )   (391 )
   
 
 
 
 
 
Total earnings before fixed charges   $ 565,285   $ 402,344   $ 219,724   $ 659,149   $ 191,449  
   
 
 
 
 
 
Ratio of earnings to combined fixed charges and preferred dividend requirements     2.38     1.67         2.21     1.16  
Excess of combined fixed charges and preferred dividend requirements over total earnings before fixed charges   $   $   $ 47,098   $   $  

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



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