Exhibit 12.1
Computation of Ratio of Earnings to Fixed Charges
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| Three Months Ended | ||
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| July 2, | Apr. 2, | Jan. 1, |
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| 2005 | 2005 | 2005 |
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Net income for the period |
| 130,462 | 75,762 | 48,481 |
Add: Provision for income taxes |
| 70,883 | 43,696 | 27,996 |
Add: Minority interest |
| (21) | 23 | 2 |
Fixed charges |
| 68,638 | 69,598 | 69,217 |
Less: Capitalized interest |
| (1,755) | (1,042) | (1,010) |
Income before taxes on income and fixed charges |
| 268,207 | 188,037 | 144,686 |
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Fixed Charges: |
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Interest |
| 55,972 | 58,077 | 58,172 |
Capitalized interest |
| 1,755 | 1,042 | 1,010 |
Rentals at computed interest factor (1) |
| 9,905 | 9,548 | 9,107 |
Amortization of debt discount expense |
| 1,006 | 931 | 928 |
Total fixed charges |
| 68,638 | 69,598 | 69,217 |
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Ratio of earnings to fixed charges |
| 3.91 | 2.70 | 2.09 |
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| Fiscal Years Ending | ||||
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| 2004 | 2003 | 2002 | 2001 | 2000 |
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Net income for the period |
| 402,907 | 337,408 | 382,727 | 87,859 | 151,221 |
Add: Provision for income taxes |
| 232,392 | 185,493 | 210,237 | 58,362 | 83,520 |
Add: Minority interest |
| (68) | 248 | (97) | 18,750 | (182) |
Fixed charges |
| 314,681 | 337,164 | 351,622 | 175,457 | 142,613 |
Less: Capitalized interest |
| (3,491) | (3,325) | (9,264) | (3,249) | (1,746) |
Income before taxes on income and fixed charges |
| 946,421 | 856,988 | 935,225 | 337,179 | 375,426 |
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Fixed Charges: |
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Interest |
| 268,438 | 294,175 | 296,983 | 143,718 | 115,261 |
Capitalized interest |
| 3,491 | 3,325 | 9,264 | 3,249 | 1,746 |
Rentals at computed interest factor (1) |
| 37,010 | 34,730 | 37,504 | 25,343 | 22,052 |
Amortization of debt discount expense |
| 5,742 | 4,934 | 7,871 | 3,147 | 3,554 |
Total fixed charges |
| 314,681 | 337,164 | 351,622 | 175,457 | 142,613 |
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Ratio of earnings to fixed charges |
| 3.01 | 2.54 | 2.66 | 1.92 | 2.63 |
(1) Amounts represent those portions of rent expense (one-third) that are reasonable approximations of interest costs.
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