Exhibit 12.1
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
PFGI | Predecessor | VFI | ||||||||||||||||||||||||||||
Fiscal year ended December 25, 2005 | 21 weeks ended December 26, 2004 | 36 weeks ended July 31, 2004 | 16 weeks ended November 24, 2003 | Fiscal year ended July 31, | 10 Weeks Ended July 31, 2001 | 42 Weeks Ended May 22, 2001 | ||||||||||||||||||||||||
2003 | 2002 | |||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||
Fixed charges as defined: | ||||||||||||||||||||||||||||||
Interest expense | $ | 71,104 | $ | 26,260 | $ | 26,240 | $ | 9,310 | $ | 11,592 | $ | 14,513 | $ | 3,342 | $ | 42,163 | ||||||||||||||
One-third of non-cancelable lease rent | 2,062 | 499 | 845 | 317 | 1,119 | 1,473 | 248 | 1,329 | ||||||||||||||||||||||
Total fixed charges (A) | 73,166 | 26,759 | 27,085 | 9,627 | 12,711 | 15,986 | 3,590 | 43,492 | ||||||||||||||||||||||
Eanings as defined: | ||||||||||||||||||||||||||||||
Pretax earnings (loss) | (43,602 | ) | (15,281 | ) | (87,070 | ) | (4,580 | ) | 13,964 | 16,112 | (8,897 | ) | (50,549 | ) | ||||||||||||||||
Add fixed charges | 73,166 | 26,759 | 27,085 | 9,627 | 12,711 | 15,986 | 3,590 | 43,492 | ||||||||||||||||||||||
Earnings and fixed charges (B) | 29,564 | 11,478 | (59,985 | ) | 5,047 | 26,675 | 32,098 | (5,307 | ) | (7,057 | ) | |||||||||||||||||||
Ratio of earnings to fixed charges: (B/A) | NM | (1) | NM | (1) | NM | (1) | NM | (2) | 2.10 | 2.01 | NM | (2) | NM | (3) |
(1) | PFGI’s earnings for fiscal 2005, the 21 weeks ended December 26, 2004 and the 36 weeks ended July 31, 2004 were insufficient to cover fixed charges by $43.6 million, $15.3 million and $87.1 million, respectively. |
(2) | The Predecessor’s earnings for the 16 weeks ended November 24, 2003 and the 10 weeks ended July 31, 2001 were insufficient to cover fixed charges by $4.6 million and $8.9 million, respectively. |
(3) | VFI’s earnings for the 42 weeks ended May 22, 2001 were insufficient to cover fixed charges by $50.5 million. |