EX-12 3 dex12.htm RATIO OF EARNINGS TO FIXED CHARGES Ratio of Earnings to Fixed Charges

Exhibit 12

 

SUPERVALU INC.

Ratio of Earnings to Fixed Charges

(unaudited)

 

     First
Quarter
     Fiscal Year
End
     Fiscal Year
End
     Fiscal Year
End
      Fiscal Year
End
      Fiscal Year
End
  
    

June 14,

2003

    

February 22,

2003

    

February 23,

2002

    

February 24,

2001

     

February 26,

2000

     

February 27,

1999

  
     (In thousands, except ratios)  

Earnings before income taxes

    $ 117,402     $ 408,004     $ 331,998     $ 139,590      $ 445,393      $ 316,261  

Less undistributed earnings of less than fifty percent owned affiliates

      (4,064 )     (16,368 )     (13,450 )     (9,429 )      (6,605 )      (5,943 )
    
 
 
 
  
  

Earnings before income taxes

      113,338       391,636       318,548       130,161        438,788        310,318  

Interest expense

      49,575       182,499       194,294       212,898        154,482        124,111  

Interest on operating leases

      12,903       44,864       35,971       29,047        23,838        18,574  
    
 
 
 
  
  

Subtotal

      175,816       618,999       548,813       372,106        617,108        453,003  
    
 
 
 
  
  

Total fixed charges

    $ 62,478     $ 227,363     $ 230,265     $ 241,945      $ 178,320      $ 142,685  
    
 
 
 
  
  

Ratio of earnings to fixed charges

      2.81       2.72       2.38       1.54        3.46        3.17