EX-12 2 ex12q1fy14.htm COMPUTATION OF RATIO OF CONSOLIDATED EARNINGS TO FIXED CHARGES Ex 12 Q1 FY14


EXHIBIT 12


DARDEN RESTAURANTS, INC.
COMPUTATION OF RATIO OF CONSOLIDATED EARNINGS TO FIXED CHARGES
(Dollar amounts in millions)
(Unaudited)

 
Three Months Ended
 
August 25,
2013
 
August 26,
2012
Consolidated earnings from continuing operations before income taxes
$
88.7

 
$
146.3

Plus fixed charges:
 
 
 
   Gross interest expense(1)
33.8

 
29.0

   40% of restaurant and equipment minimum rent expense
17.0

 
13.9

       Total fixed charges
50.8

 
42.9

Less capitalized interest
(1.0
)
 
(0.8
)
Consolidated earnings from continuing operations before income taxes available to cover fixed charges
$
138.5

 
$
188.4

Ratio of consolidated earnings from continuing operations to fixed charges
2.7

 
4.4

                                                                              
(1) Gross interest expense includes interest recognized in connection with our unrecognized income tax benefits