EX-12.1 4 ex1210-k2014aramarkratioto.htm RATIO OF EARNINGS TO FIXED CHARGES EX 12 10-K 2014 Aramark Ratio to Earnings
Exhibit 12.1

ARAMARK AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES(A) 
(Unaudited)
(In thousands)

 
 
Fiscal Year
Ended
October 3, 2014 (B)
 
Fiscal Year
Ended
September 27, 2013
 
Fiscal Year
Ended
September 28, 2012
 
Fiscal Year
Ended
September 30, 2011
 
Fiscal Year
Ended
October 1, 2010
 
Income from continuing operations before income taxes
 
$
229,677

 
$
90,629

 
$
124,968

 
$
95,969

 
$
32,986

 
Fixed charges, excluding capitalized interest
 
402,396

 
491,025

 
522,431

 
526,033

 
509,344

 
Undistributed earnings of less than 50% owned affiliates
 
(14,968
)
 
(17,056
)
 
(21,423
)
 
(24,523
)
 
(22,114
)
 
Earnings, as adjusted
 
$
617,105

 
$
564,598

 
$
625,976

 
$
597,479

 
$
520,216

 
Interest expense
 
$
339,224

 
$
430,275

 
$
462,284

 
$
469,773

 
$
451,828

 
Portion of operating lease rentals representative of interest factor
 
62,667

 
59,767

 
59,133

 
56,033

 
57,467

 
Fixed charges
 
$
401,891

 
$
490,042

 
$
521,417

 
$
525,806

 
$
509,295

 
Ratio of earnings to fixed charges
 
1.5

x
1.2

x
1.2

x
1.1

x
1.0

x


(A)
For the purpose of determining the ratio of earnings to fixed charges, earnings include pretax income (loss) from continuing operations plus fixed charges (excluding capitalized interest). Fixed charges consist of interest on all indebtedness (including capitalized interest) plus that portion of operating lease rentals representative of the interest factor (deemed to be one-third of operating lease rentals).
(B)
Fiscal 2014 was a 53 week year.