EX-12.1 6 d223459dex121.htm STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Statement Re: Computation of Ratio of Earnings to Fixed Charges

Exhibit 12.1

 

    Six Months
Ended June 26,
2011
    Fiscal Year Ended  
      December 26,
2010
    December 20,
2009
    December 21,
2008
    December 23,
2007
    December 24,
2006
 
    ($ in thousands)  

Earnings:

           

(Loss) income from continuing operations before income taxes

  $ (41,988   $ (45,994   $ (15,818   $ 6,200      $ 10,851      $ 47,025   

Fixed charges

    42,525        76,127        72,837        75,467        75,381        71,107   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Earnings from continuing operations, adjusted

  $ 537      $ 30,133      $ 57,019      $ 81,667      $ 86,232      $ 118,132   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Ratio of earnings to fixed charges

    —          —          —          1.08x        1.14x        1.66x   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Fixed Charges:

           

Interest expense

  $ 23,627      $ 40,117      $ 38,036      $ 39,923      $ 43,567      $ 47,491   

Interest portion of rent expense

    18,898        35,414        34,375        35,267        31,814        23,616   

Capitalized interest

    —          596        426        277        —          —     
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total fixed charges

  $ 42,525      $ 76,127      $ 72,837      $ 75,467      $ 75,381      $ 71,107   

For the purposes of computing the ratio of earnings to fixed charges, earnings are defined as (loss) income from continuing operations before income taxes plus fixed charges. Fixed charges consist of interest expense (including capitalized interest) and the portion of rental expense that is representative of the interest factor. For the six months ended June 26, 2011 and the fiscal years ended December 26, 2010 and December 20, 2009, earnings were insufficient to cover fixed charges by $42.0 million, $46.0 million, and $15.8 million, respectively.