EX-12 6 l02647aexv12.htm EX-12 STATEMENT REGARDING COMPUTATION OF EARNINGS EX-12 Statement Regarding Computation of Earnings
 

EXHIBIT 12

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

                           
Year Ended

June 27, June 28, June 29,
2003 2002 2001



(Millions of Dollars,
Except Ratios)
Earnings:
                       
Net Income
  $ 59.5     $ 82.6     $ 21.4  
Plus: Income Taxes
    30.6       42.5       51.0  
 
Fixed Charges
    31.8       34.1       41.8  
 
Amortization of Capitalized Interest
                 
Less: Interest Capitalized During the Period
                 
 
Undistributed Earnings in Equity Investments
          (2.0 )     (8.0 )
     
     
     
 
    $ 121.9     $ 161.2     $ 122.2  
     
     
     
 
Fixed Charges:
                       
Interest Expense
  $ 24.9     $ 26.7     $ 34.8  
Plus: Capitalized Interest
                 
 
Interest Portion of Rental Expense
    6.9       7.4       7.0  
     
     
     
 
    $ 31.8     $ 34.1     $ 41.8  
     
     
     
 
Ratio of Earnings to Fixed Charges
    3.83       4.73       2.92