Unified Grocers POS AM Prospectus update (post-effective amendment)

EXHIBIT 12.1

UNIFIED GROCERS, INC. AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(In thousands, except for ratios)

	Fiscal Year
	2012			2011			2010			2009			2008
(1) Earnings:
Net earnings	$	1,953		$	7,387		$	10,978		$	14,755		$	17,369
Income taxes		(193	)		5,273			6,123			7,857			9,183
Patronage dividends		10,787			12,431			14,038			16,723			22,059
Subtotal: Net earnings before income taxes and patronage dividends		12,547			25,091			31,139			39,335			48,611
Amortization of capitalized interest		94			115			130			142			127
Fixed charges		14,497			16,212			13,055			13,181			18,065
Less: Capitalized interest		(648	)		(2,634	)		(397	)		(351	)		(242	)
Earnings (a)	$	26,490		$	38,784		$	43,927		$	52,307		$	66,561
(2) Fixed Charges:
Gross rental expense	$	21,865		$	22,923		$	22,755		$	23,792		$	27,315
Less: Estimated rent component		20,588			21,687			21,608			22,645			25,313
Estimated interest component of rental expense		1,277			1,236			1,147			1,147			2,002
Interest expense		12,572			12,342			11,511			11,683			15,821
Capitalized interest		648			2,634			397			351			242
Total fixed charges (b)	$	14,497		$	16,212		$	13,055		$	13,181		$	18,065
Ratio of Earnings to Fixed Charges (a)/(b)		1.83x			2.39x			3.36x			3.97x			3.68x

(a)(b)—Cross-reference on page.

(1) Earnings used in computing the ratio of earnings to fixed charges consist of net earnings before income taxes and patronage dividends, plus amortization of capitalized interest and fixed charges, less capitalized interest.

(2) Fixed charges consist of the sum of the portion of rental expense that is representative of the interest factor, interest expense (including amortization of deferred financing costs) and capitalized interest.