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 10, 2010 | September 11, 2009 | |||||||
Loss from continuing operations before income taxes | $ | (145 | ) | $ | (161 | ) | ||
Add (deduct): | ||||||||
Fixed charges | 311 | 313 | ||||||
Capitalized interest | (2 | ) | (6 | ) | ||||
Amortization of capitalized interest | 5 | 4 | ||||||
Equity in (earnings)/losses related to certain 50% or less owned affiliates | 5 | 36 | ||||||
Distributions from equity investments | 2 | 1 | ||||||
Dividends on preferred stock | (4 | ) | (6 | ) | ||||
Issuance costs of redeemed preferred stock | (4 | ) | — | |||||
Adjusted earnings | $ | 168 | $ | 181 | ||||
Fixed charges: | ||||||||
Interest on indebtedness and amortization of deferred financing costs | $ | 268 | $ | 264 | ||||
Capitalized interest | 2 | 6 | ||||||
Dividends on preferred stock | 4 | 6 | ||||||
Issuance costs of redeemed preferred stock | 4 | — | ||||||
Portion of rents representative of the interest factor | 33 | 37 | ||||||
Total fixed charges and preferred stock dividends | $ | 311 | $ | 313 | ||||
Deficiency of earnings to fixed charges and preferred stock dividends | $ | (143 | ) | $ | (132 | ) |