EX-12.1 3 dex121.htm COMPUTATION OF RATIO OF EARNINGS Prepared by R.R. Donnelley Financial -- Computation of Ratio of Earnings
EXHIBIT 12.1
SUPERVALU INC. and Subsidiaries
Ratio of Earnings to Fixed Charges
For Fiscal Years Ended
 
 
(In thousands, except ratios)
   
2002
     
2001
     
2000
     
1999
     
1998
  
Earnings before income taxes
   
$
343,703
 
   
$
154,357
 
   
$
447,454
 
   
$
316,261
 
   
$
384,780
 
Less undistributed earnings of less than
    fifty percent owned affiliates:
   
 
(13,450
)
   
 
(9,429
)
   
 
(6,605
)
   
 
(5,943
)
   
 
(7,388
)
    
  
  
  
  
Earnings before income taxes
   
 
330,253
 
   
 
144,928
 
   
 
440,849
 
   
 
310,318
 
   
 
377,392
 
Interest expense
   
 
194,294
 
   
 
212,898
 
   
 
154,482
 
   
 
124,111
 
   
 
133,619
 
Interest on operating leases
   
 
35,971
 
   
 
29,047
 
   
 
23,838
 
   
 
18,574
 
   
 
18,010
 
    
  
  
  
  
    
$
560,518
 
   
$
386,873
 
   
$
619,169
 
   
$
453,003
 
   
$
529,021
 
    
  
  
  
  
Total fixed charges
   
 
230,265
 
   
 
241,945
 
   
 
178,320
 
   
 
142,685
 
   
 
151,629
 
    
  
  
  
  
Ratio of earnings to fixed charges
   
 
2.43
 
   
 
1.60
 
   
 
3.47
 
   
 
3.17
 
   
 
3.49