EX-12 4 sptnstex12_081607.htm SPARTAN STORES, INC. EXHIBIT 12 TO FORM S-3 Spartan Stores Exhibit 12 to Form S-3 - 08/14/07

EXHIBIT 12

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
($ in thousands)

 


Year Ended


 

Pro
Forma


 


Quarter Ended


 

Pro
Forma


 

 

March 29,
2003


 

March 27,
2004


 

March 26,
2005


 

March 25,
2006


 

March 31,
2007


 

March 31,
2007


 

June 27,
2006


 

June 23,
2007


 

June 23,
2007


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) from
  Continuing Operations
  before income taxes

 



(54,950



)

 



(9,107



)

 



28,545

 

 



30,669

 

 



39,323

 

 



43,322

 

 



4,031

 

 



10,398

 

 



10,954

 

Fixed charges

 

26,401

 

 

22,031

 

 

18,191

 

 

16,273

 

 

22,481

 

 

19,115

 

 

5,102

 

 

4,774

 

 

4,445

 

Amortization of
  capitalized interest

 


160

 

 


226

 

 


294

 

 


342

 

 


314

 

 


314

 

 


72

 

 


57

 

 


57

 

Less: Interest charges
  capitalized


 



(279



)



 



(385



)



 



(293



)



 



(181



)



 



(202



)



 



(202



)



 



(47



)



 



(48



)



 



(48



)


  Total Earnings (Loss)

 


(28,668


)


 


12,765


 

 


46,738


 

 


47,102


 

 


61,916


 

 


62,549


 

 


9,159


 

 


15,181


 

 


15,409


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

17,322

 

 

13,146

 

 

9,315

 

 

7,669

 

 

12,751

 

 

9,385

 

 

2,857

 

 

2,525

 

 

2,197

 

Capitalized interest

 

279

 

 

385

 

 

293

 

 

181

 

 

202

 

 

202

 

 

47

 

 

48

 

 

48

 

Interest component
  of rent expense


 



8,800


 


 



8,500


 


 



8,584


 


 



8,422


 


 



9,528


 


 



9,528


 


 



2,199


 


 



2,201


 


 



2,201


 

  Total Fixed Charges

 


26,401


 

 


22,031


 

 


18,191


 

 


16,273


 

 


22,481


 

 


19,115


 

 


5,102


 

 


4,774


 

 


4,445


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to
  Fixed Charges


 



N/A


 


 



N/A


 


 



2.57


 


 



2.89


 


 



2.75


 


 



3.27


 


 



1.80


 


 



3.18


 


 



3.47


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deficiency

$

(55,069

)

$

(9,266

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For purposes of calculating the ratio of earnings to fixed charges, earnings consist of pretax earnings from continuing operations plus fixed charges (excluding capitalized interest). Fixed charges consist of interest cost, whether expensed or capitalized.

N/A: Earnings were insufficient to cover fixed charges. The amount shown below represents the deficiency in earnings to achieve a one-to-one ratio.