Exhibit 12.1
Computation of Ratios of Earnings to Fixed Charges
Dollars in thousands | ||||||||||||||||||||||||
Quarter Ended 4/1/07 | Fiscal Years Ended | |||||||||||||||||||||||
12/31/06 | 12/25/05 | 12/26/04 | 12/28/03 | 12/29/02 | ||||||||||||||||||||
Earnings Available for Fixed Charges: | ||||||||||||||||||||||||
Income from continuing operations before income taxes, as adjusted | $ | 322,740 | $ | 1,702,572 | $ | 1,837,121 | $ | 1,980,161 | $ | 1,826,781 | $ | 1,730,576 | ||||||||||||
Add: fixed charges | 78,558 | 312,397 | 235,786 | 165,180 | 161,518 | 167,010 | ||||||||||||||||||
Add: amortization of capitalized interest | 521 | 2,276 | 2,180 | 2,012 | 2,006 | 1,962 | ||||||||||||||||||
Add: distributed income of equity investees | 8,106 | 50,981 | 10,091 | 12,259 | 14,016 | 13,500 | ||||||||||||||||||
Less: interest capitalized | (30 | ) | (2,024 | ) | (3,162 | ) | (4,802 | ) | (3,355 | ) | (2,074 | ) | ||||||||||||
Adjusted Earnings | $ | 409,895 | $ | 2,066,202 | $ | 2,082,016 | $ | 2,154,810 | $ | 2,000,966 | $ | 1,910,974 | ||||||||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest on indebtedness, excluding capitalized interest | $ | 72,945 | 288,040 | $ | 210,625 | $ | 140,647 | $ | 139,271 | $ | 146,359 | |||||||||||||
Capitalized interest | 30 | 2,024 | 3,162 | 4,802 | 3,355 | 2,074 | ||||||||||||||||||
Portion of rents representative of interest factor | 5,583 | 22,333 | 21,999 | 19,731 | 18,892 | 18,577 | ||||||||||||||||||
Fixed Charges | $ | 78,558 | $ | 312,397 | $ | 235,786 | $ | 165,180 | $ | 161,518 | $ | 167,010 | ||||||||||||
Ratio of Earnings to Fixed Charges | 5.2 | 6.6 | 8.8 | 13.0 | 12.4 | 11.4 | ||||||||||||||||||