Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS
(in millions, except ratio amounts)
Year-to-date ended | ||||||||
September 11, 2009 | September 5, 2008 | |||||||
Income (loss) from continuing operations before income taxes | $ | (213 | ) | $ | 278 | |||
Add (deduct): | ||||||||
Fixed charges | 313 | 312 | ||||||
Capitalized interest | (6 | ) | (8 | ) | ||||
Amortization of capitalized interest | 4 | 4 | ||||||
Equity in (earnings)/losses related to certain 50% or less owned affiliates | 36 | (3 | ) | |||||
Distributions from equity investments | 1 | 3 | ||||||
Dividends on preferred stock | (6 | ) | (6 | ) | ||||
Adjusted earnings | $ | 129 | $ | 580 | ||||
Fixed charges: | ||||||||
Interest on indebtedness and amortization of deferred financing costs | $ | 264 | $ | 262 | ||||
Capitalized interest | 6 | 8 | ||||||
Dividends on preferred stock | 6 | 6 | ||||||
Portion of rents representative of the interest factor | 37 | 36 | ||||||
Total fixed charges and preferred stock dividends | $ | 313 | $ | 312 | ||||
Ratio of earning to fixed charges and preferred stock dividends | — | 1.9 | ||||||
Deficiency of earnings to fixed charges and preferred stock dividends | $ | (184 | ) | $ | — |
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