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EXHIBIT 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS
(in millions, except ratio amounts)
Quarter ended | ||||||||
March 21, 2008 | March 23, 2007 | |||||||
Income from continuing operations before income taxes | $ | 53 | $ | 35 | ||||
Add (deduct): | ||||||||
Fixed charges | 93 | 109 | ||||||
Capitalized interest | (3 | ) | (2 | ) | ||||
Amortization of capitalized interest | 1 | 1 | ||||||
Minority interest in consolidated affiliates | 9 | 11 | ||||||
Equity in earnings related to certain 50% or less owned affiliates | — | (2 | ) | |||||
Distributions from equity investments | 2 | 2 | ||||||
Dividends on preferred stock | (2 | ) | (2 | ) | ||||
Adjusted earnings | $ | 153 | $ | 152 | ||||
Fixed charges: | ||||||||
Interest on indebtedness and amortization of deferred financing costs | $ | 76 | $ | 94 | ||||
Capitalized interest | 3 | 2 | ||||||
Dividends on preferred stock | 2 | 2 | ||||||
Portion of rents representative of the interest factor | 12 | 11 | ||||||
Total fixed charges and preferred stock dividends | $ | 93 | $ | 109 | ||||
Ratio of earning to fixed charges and preferred stock dividends | 1.6 | 1.4 |
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