EX-12.1 7 dex121.htm STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Statement Regarding Computation of Ratio of Earnings to Fixed Charges

Exhibit 12.1

Computation of Ratios of Earnings to Fixed Charges

 

     Dollars in thousands  
    

Quarter Ended

3/26/06

    Fiscal Years Ended  
       12/25/05     12/26/04     12/28/03     12/29/02     12/30/01  

Earnings Available for Fixed Charges:

            

Income from continuing operations before income taxes, as adjusted

   $ 360,811     $ 1,837,121     $ 1,980,161     $ 1,826,781     $ 1,730,576     $ 1,377,011  

Add: fixed charges

     71,177       235,786       165,180       161,518       167,010       250,103  

Add: amortization of capitalized interest

     545       2,180       2,012       2,006       1,962       1,715  

Add: distributed income of equity investees

     7,538       10,091       12,259       14,016       13,500       17,516  

Less: interest capitalized

     (956 )     (3,162 )     (4,802 )     (3,355 )     (2,074 )     (8,550 )
                                                

Adjusted Earnings

   $ 439,115     $ 2,082,016     $ 2,154,810     $ 2,000,966     $ 1,910,974     $ 1,637,795  
                                                

Fixed Charges:

            

Interest on indebtedness, excluding capitalized interest

   $ 64,721     $ 210,625     $ 140,647     $ 139,271     $ 146,359     $ 221,854  

Capitalized interest

     956       3,162       4,802       3,355       2,074       8,550  

Portion of rents representative of interest factor

     5,500       21,999       19,731       18,892       18,577       19,699  
                                                

Fixed Charges

   $ 71,177     $ 235,786     $ 165,180     $ 161,518     $ 167,010     $ 250,103  
                                                

Ratio of Earnings to Fixed Charges

     6.2       8.8       13.0       12.4       11.4       6.5