Exhibit 12.1
Statement regarding computation of ratio of earnings to fixed charges
Ratio Of Earnings to Fixed Charges
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Nine months ended | | Year ended |
| | December 31, | | January 2, | | April 2, | | March 28, | | March 29, | | March 30, | | March 31, |
| (In thousands) | 2016 | | 2016 | | 2016 | | 2015 | | 2014 | | 2013 | | 2012 |
| Fixed Charges | | | | | | | | | | | | | |
| Interest Expensed | $ | 31,032 |
| | $ | 31,032 |
| | $ | 41,375 |
| | $ | 41,375 |
| | $ | 37,025 |
| | $ | 37,301 |
| | $ | 37,301 |
|
| Interest Capitalized | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
|
| Amortized Premiums | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
|
| Amortized Discounts | 9,053 |
| | 9,034 |
| | 12,047 |
| | 12,022 |
| | 16,319 |
| | 15,880 |
| | 15,545 |
|
| Amortization of Fair Value of Derivative at Inception | — |
| | — |
| | — |
| | — |
| | 58 |
| | 58 |
| | 58 |
|
| Capitalized Expenses Related to Indebtedness | 1,525 |
| | 1,525 |
| | 2,034 |
| | 2,034 |
| | 1,723 |
| | 1,671 |
| | 1,671 |
|
| Estimate of Interest within Rental Expense | 315 |
| | 295 |
| | 397 |
| | 435 |
| | 449 |
| | 280 |
| | 248 |
|
| Preference Security Dividend | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
|
| Total Fixed Charges | $ | 41,925 |
| | $ | 41,886 |
| | $ | 55,853 |
| | $ | 55,866 |
| | $ | 55,574 |
| | $ | 55,190 |
| | $ | 54,823 |
|
| | | | | | | | | | | | | | |
| Earnings | | | | | | | | | | | | | |
| + Pretax Income from Continuing Operations | $ | 519,860 |
| | $ | 466,988 |
| | $ | 636,825 |
| | $ | 740,076 |
| | $ | 709,526 |
| | $ | 547,006 |
| | $ | 597,051 |
|
| + Fixed Charges | 41,925 |
| | 41,886 |
| | 55,853 |
| | 55,866 |
| | 55,574 |
| | 55,190 |
| | 54,823 |
|
| + Amortization of Capitalized Interest | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
|
| + Distributed Income of Equity Investee | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
|
| + Pretax Losses of Equity Investee | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
|
| - Interest Capitalized | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
|
| - Preference Securities Dividend of Consolidated Subsidiaries | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
|
| - Minority Interest in Pretax Income of Subsidiaries | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
|
| Total Earnings | $ | 561,785 |
| | $ | 508,874 |
| | $ | 692,678 |
| | $ | 795,942 |
| | $ | 765,100 |
| | $ | 602,196 |
| | $ | 651,874 |
|
| | | | | | | | | | | | | | |
| Earnings to Fixed Charges Ratio | 13.4 |
| | 12.1 |
| | 12.4 |
| | 14.2 |
| | 13.8 |
| | 10.9 |
| | 11.9 |
|
