Exhibit 12.1
Statement of Computation of Ratios of Earnings to Fixed Charges
Fiscal Years Ended | ||||||||||||||||||||
June 24, | June 25, | June 26, | June 27, | June 29, | ||||||||||||||||
2007 | 2006 | 2005 | 2004 | 2003 | ||||||||||||||||
(Amounts in thousands) | ||||||||||||||||||||
Earnings available to fixed charges: | ||||||||||||||||||||
Loss from continuing operations before income taxes | $ | (139,858 | ) | $ | (15,896 | ) | $ | (33,221 | ) | $ | (69,262 | ) | $ | (18,680 | ) | |||||
Minority interest (income) expenses | — | — | (530 | ) | (6,430 | ) | 4,769 | |||||||||||||
Equity in (earnings) losses in unconsolidated affiliates | 4,292 | (825 | ) | (6,938 | ) | 6,877 | (10,728 | ) | ||||||||||||
Fixed charges | 25,817 | 19,581 | 21,014 | 19,150 | 20,189 | |||||||||||||||
Distributed income from equity affiliates | 6,367 | 1,770 | 6,905 | 1,079 | 11,749 | |||||||||||||||
$ | (103,382 | ) | $ | 4,630 | $ | (12,770 | ) | $ | (48,586 | ) | $ | 7,299 | ||||||||
Fixed charges: | ||||||||||||||||||||
Interest expense | $ | 25,518 | $ | 19,266 | $ | 20,594 | $ | 18,706 | $ | 19,739 | ||||||||||
Portion of rent determined to be interest | 299 | 315 | 420 | 444 | 450 | |||||||||||||||
$ | 25,817 | $ | 19,581 | $ | 21,014 | $ | 19,150 | $ | 20,189 | |||||||||||
Ratio of earnings to fixed charges (1) | — | — | — | — | — | |||||||||||||||
(1) | Earnings for the five fiscal years above were inadequate to cover fixed charges. Earnings were insufficient to cover fixed charges by $129.2 million, $15.0 million, $33.8 million, $67.7 million, and $12.9 million, respectively, in fiscal years 2007, 2006, 2005, 2004, and 2003. |