EX-12.1 3 sptnstex121_051508.htm SPARTAN STORES EXHIBIT 12.1 TO FORM 10-K Spartan Stores Exhibit 12.1 to Form 10-K - 05/15/08

Exhibit 12.1

SPARTAN STORES, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(In thousands, except ratios)

Fiscal Year Ended

 

 

March 29,
2008

 

March 31,
2007

 

March 25,
2006

 

March 26,
2005

 

March 27,
2004

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) before
   income taxes and
   discontinued operations

 



$



50,776

 



$



37,181

 



$



28,299

 



$



27,238

 



$



(6,676



)

Fixed charges

 

 

21,374

 

 

21,134

 

 

14,995

 

 

16,548

 

 

20,353

 

Amortization of
   capitalized interest

 

 


260

 

 


314

 

 


342

 

 


294

 

 


226

 

Capitalized interest

 

 

(195

)

 

(202

)

 

(181

)

 

(293

)

 

(385

)

Earnings available for
   fixed charges

 


$


72,215

 


$


58,427

 


$


43,455

 


$


43,787

 


$


13,518

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

11,133

 

$

12,132

 

$

7,138

 

$

8,557

 

$

12,223

 

Capitalized interest

 

 

195

 

 

202

 

 

181

 

 

293

 

 

385

 

Interest component of
   rent expense

 


 


10,046

 


 


8,800

 


 


7,676

 


 


7,698

 


 


7,745

 

Total fixed charges

 

$

21,374

 

$

21,134

 

$

14,995

 

$

16,548

 

$

20,353

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to
   fixed charges

 


 


3.38

 


 


2.76

 


 


2.90

 


 


2.65

 


 


N/A

 


Earnings for the year ended March 27, 2004 were inadequate to cover fixed charges. Additional earnings of $6.8 million would have been necessary to bring the ratio to 1.0.