Exhibit 12.1

Computation of Ratio of Earnings to Fixed Charges

(In millions, except ratios)

Ratio of Earnings to Fixed Charges:

	Fiscal Year Ended															Six Months Ended
	Dec. 26, 2015			Dec. 27, 2014			Dec. 28, 2013			Dec. 29, 2012			Dec. 31, 2011			Jun. 25, 2016			Jun. 27, 2015
Interest expense	$	146		$	159		$	152		$	146		$	150		$	73		$	73
Capitalized interest		0			0			0			0			0			0			0
Amortized premiums, discounts, and capitalized expenses related to indebtedness		6			9			11			10			10			3			3
Estimated interest portion of rent expense		19			20			14			14			16			11			10
Other		3			0			0			0			(2	)		0			0
Fixed charges	$	174		$	188		$	177		$	170		$	174		$	87		$	86
Income (loss) from continuing operations before equity income (loss) and dilution in investees, income taxes and noncontrolling interest	$	(646	)	$	(398	)	$	(74	)	$	(1,217	)	$	(1	)	$	(157	)	$	(357	)
Fixed charges		174			188			177			170			174			87			86
Less: interest charges capitalized		0			0			0			0			0			0			0
Earnings (loss)	$	(472	)	$	(210	)	$	103		$	(1,047	)	$	173		$	(70	)	$	(271	)
Ratio of earnings to fixed charges		*			*			0.6x			*			1.0x			*			*

* For the years ended December 26, 2015, December 27, 2014, December 28, 2013, December 29, 2012 and December 31, 2011, earnings were insufficient to cover fixed charges by approximately $646 million, $398 million, $74 million, $1.2 billion and $1 million, respectively. For the six-months ended June 26, 2015 and June 27, 2015, earnings were insufficient to cover fixed charges by approximately $157 million and $357 million, respectively.