Exhibit 12.1
COMPUTATION OF CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
| Our consolidated ratios of earnings to fixed charges for each of the periods indicated are as follows: |
| 13-Weeks Ended March 30, 2013 | Year Ended December 29, 2012 | Year Ended December 31, 2011 | Year Ended January 1, 2011 | Year Ended January 2, 2010 | Year Ended December 27, 2008 | |||||||||||||||||||
Income (loss) from continuing operations before income taxes | $ | (94.7 | ) | $ | (8.7 | ) | $ | (144.2 | ) | $ | 2.6 | $ | (57.8 | ) | $ | (119.9 | ) | |||||||
Interest capitalized during the period | (0.3 | ) | (1.5 | ) | (3.2 | ) | (2.1 | ) | (1.2 | ) | (5.4 | ) | ||||||||||||
Total fixed charges | 4.1 | 330.1 | 328.7 | 362.5 | 387.2 | 423.0 | ||||||||||||||||||
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Adjusted earnings | $ | (90.9 | ) | $ | 319.9 | $ | 181.3 | $ | 363.0 | $ | 328.2 | $ | 297.7 | |||||||||||
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Fixed Charges | ||||||||||||||||||||||||
Interest (income) expense | $ | 311.8 | $ | 307.6 | $ | 341.7 | $ | 358.5 | $ | 387.8 | ||||||||||||||
Interest capitalized during the period | 0.3 | 1.5 | 3.2 | 2.1 | 1.2 | 5.4 | ||||||||||||||||||
Interest portion of rent expense | 3.8 | 16.8 | 17.9 | 18.7 | 27.5 | 29.8 | ||||||||||||||||||
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Total Fixed Charges | $ | 4.1 | $ | 330.1 | $ | 328.7 | $ | 362.5 | $ | 387.2 | $ | 423.0 | ||||||||||||
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Ratio of earnings to fixed charges | N/A | N/A | N/A | 1.0 | N/A | N/A | ||||||||||||||||||
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Coverage deficiency | $ | 95.0 | $ | 10.2 | $ | 147.4 | — | $ | 59.0 | $ | 125.3 | |||||||||||||
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Rent expense, net of sublease income | $ | 11.4 | $ | 50.4 | $ | 53.7 | $ | 56.1 | $ | 82.6 | $ | 89.5 | ||||||||||||
Interest factor | 33 | % | 33 | % | 33 | % | 33 | % | 33 | % | 33 | % | ||||||||||||
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Interest in rent expense | $ | 3.8 | $ | 16.8 | $ | 17.9 | $ | 18.7 | $ | 27.5 | $ | 29.8 | ||||||||||||
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