Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS
(in millions, except ratio amounts)
| Year-to-date ended | ||||||||
| June 18, 2010 | June 19, 2009 | |||||||
Loss from continuing operations before income taxes | $ | (78 | ) | $ | (69 | ) | ||
Add (deduct): | ||||||||
Fixed charges | 210 | 202 | ||||||
Capitalized interest | (1 | ) | (5 | ) | ||||
Amortization of capitalized interest | 3 | 3 | ||||||
Equity in (earnings)/losses related to certain 50% or less owned affiliates | 5 | 34 | ||||||
Distributions from equity investments | 2 | 1 | ||||||
Dividends on preferred stock | (4 | ) | (4 | ) | ||||
Issuance costs of redeemed preferred stock | (4 | ) | — | |||||
Adjusted earnings | $ | 133 | $ | 162 | ||||
Fixed charges: | ||||||||
Interest on indebtedness and amortization of deferred financing costs | $ | 179 | $ | 169 | ||||
Capitalized interest | 1 | 5 | ||||||
Dividends on preferred stock | 4 | 4 | ||||||
Issuance costs of redeemed preferred stock | 4 | — | ||||||
Portion of rents representative of the interest factor | 22 | 24 | ||||||
Total fixed charges and preferred stock dividends | $ | 210 | $ | 202 | ||||
Deficiency of earnings to fixed charges and preferred stock dividends | $ | (77 | ) | $ | (40 | ) | ||
