EX-12.1 5 dex121.htm COMPUTATION OF CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES. Computation of Consolidated Ratio of Earnings to Fixed Charges.

EXHIBIT 12.1

DARDEN RESTAURANTS, INC.

COMPUTATION OF RATIO OF CONSOLIDATED EARNINGS TO FIXED CHARGES

(Dollar Amounts in Millions)

 

     Fiscal Year Ended     Quarter Ended  
     May 27,
2007		     May 28,
2006		     May 29,
2005		     May 30,
2004		     May 25,
2003		     August 26,
2007		     August 27,
2006		  

Consolidated Earnings from Continuing Operations before Income Taxes

    $ 530.8     $ 508.1     $ 441.6     $ 358.7     $ 348.3     $ 151.9     $ 139.4  

Plus Fixed Charges:

               

Gross Interest Expense(1)

      43.6       48.9       47.7       47.7       47.6       10.8       10.9  

40% of Restaurant and Equipment Minimum Rent Expense

      26.0       24.4       23.2       21.8       21.2       6.7       6.4  
                                                        

Total Fixed Charges

    $ 69.6     $ 73.3     $ 70.9     $ 69.5     $ 68.8     $ 17.5     $ 17.3  

Less Capitalized Interest

      (2.9 )     (1.9 )     (1.6 )     (2.2 )     (2.1 )     (1.1 )     (0.5 )
                                                        

Consolidated Earnings from Continuing Operations before Income Taxes Available to Cover Fixed Charges

    $ 597.5     $ 579.5     $ 510.9     $ 426.0     $ 415.0     $ 168.3     $ 156.2  
                                                        

Ratio of Consolidated Earnings from Continuing Operations to Fixed Charges

      8.58       7.91       7.21       6.13       6.03       9.6       9.0  
                                                        
(1) Gross interest expense includes interest recognized in connection with the Company’s unrecognized tax benefits.