Exhibit 12.1
Computation of Ratio of Earnings to Fixed Charges
(Dollar amounts in thousands)
Sept. 24, 2006(1) | Sept. 30, 2007(1) | Sept. 28, 2008(1) | Sept. 27, 2009(1) | Sept. 26, 2010(1) | June 27, 2010(2) | June 26, 2011(2) | ||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||||||
Income before income taxes | $ | 44,011 | $ | 82,674 | $ | 66,630 | $ | 54,250 | $ | 41,171 | $ | 31,293 | $ | 28,707 | ||||||||||||||
Amortization of capitalized interest | 219 | 226 | 469 | 849 | 843 | 633 | 621 | |||||||||||||||||||||
Interest | 58,476 | 67,849 | 65,531 | 65,572 | 65,330 | 49,146 | 40,234 | |||||||||||||||||||||
Less interest capitalized during the period | (4,276 | ) | (9,806 | ) | (11,261 | ) | (522 | ) | (16 | ) | (16 | ) | (233 | ) | ||||||||||||||
Net amortization of debt discount and premium and issuance expense | 3,038 | 5,496 | 3,193 | 3,202 | 3,202 | 2,408 | 5,436 | |||||||||||||||||||||
Interest portion of rental expense | 23,681 | 21,762 | 23,021 | 25,319 | 26,891 | 20,389 | 20,737 | |||||||||||||||||||||
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Earnings as adjusted | $ | 125,149 | $ | 168,201 | $ | 147,583 | $ | 148,670 | $ | 137,421 | $ | 103,853 | $ | 95,502 | ||||||||||||||
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Fixed charges: | ||||||||||||||||||||||||||||
Interest | $ | 58,476 | $ | 67,849 | $ | 65,531 | $ | 65,572 | $ | 65,330 | $ | 49,146 | $ | 40,234 | ||||||||||||||
Net amortization of debt discount and premium and issuance expense | 3,038 | 5,496 | 3,193 | 3,202 | 3,202 | 2,408 | 5,436 | |||||||||||||||||||||
Interest portion of rental expense | 23,681 | 21,762 | 23,021 | 25,319 | 26,891 | 20,389 | 20,737 | |||||||||||||||||||||
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Fixed charges | $ | 85,195 | $ | 95,107 | $ | 91,745 | $ | 94,093 | $ | 95,423 | $ | 71,943 | $ | 66,407 | ||||||||||||||
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Ratio of Earnings to Fixed Charges | 1.47 | 1.77 | 1.61 | 1.58 | 1.44 | 1.44 | 1.44 | |||||||||||||||||||||
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(1) | Fiscal years 2006, 2008, 2009 and 2010 were 52-week years while fiscal 2007 was a 53-week year |
(2) | Thirty-nine week periods |