Exhibit 12.1
Computation of Ratio of Earnings to Fixed Charges
(unaudited)
(in thousands, except ratios)
(unaudited)
(in thousands, except ratios)
| Twenty-Four Weeks Ended | ||||||||
| February 13, | February 14, | |||||||
| 2010 | 2009 | |||||||
| Earnings: | ||||||||
| Income before income taxes | $ | 418,160 | $ | 390,162 | ||||
| Fixed charges | 101,984 | 90,908 | ||||||
| Less: Capitalized interest | (527 | ) | (423 | ) | ||||
| Adjusted earnings | $ | 519,617 | $ | 480,647 | ||||
| Fixed charges: | ||||||||
| Gross interest expense | $ | 71,522 | $ | 64,306 | ||||
| Amortization of debt expense | 2,999 | 1,240 | ||||||
| Interest portion of rent expense | 27,463 | 25,362 | ||||||
| Total fixed charges | $ | 101,984 | $ | 90,908 | ||||
| Ratio of earnings to fixed charges | 5.1 | 5.3 | ||||||
| Fiscal Year Ended August | ||||||||||||||||||||
| 2009 | 2008 | 2007 | 2006 | 2005 | ||||||||||||||||
| (52 weeks) | (53 weeks) | (52 weeks) | (52 weeks) | (52 weeks) | ||||||||||||||||
| Earnings: | ||||||||||||||||||||
| Income before income taxes | $ | 1,033,746 | $ | 1,007,389 | $ | 936,150 | $ | 902,036 | $ | 873,221 | ||||||||||
| Fixed charges | 204,017 | 173,311 | 170,852 | 156,976 | 144,930 | |||||||||||||||
| Less: Capitalized interest | (1,301 | ) | (1,313 | ) | (1,376 | ) | (1,985 | ) | (1,079 | ) | ||||||||||
| Adjusted earnings | $ | 1,236,462 | $ | 1,179,387 | $ | 1,105,626 | $ | 1,057,027 | $ | 1,017,072 | ||||||||||
| Fixed charges: | ||||||||||||||||||||
| Gross interest expense | $ | 143,860 | $ | 120,006 | $ | 121,592 | $ | 110,568 | $ | 102,341 | ||||||||||
| Amortization of debt expense | 3,644 | 1,837 | 1,719 | 1,559 | 2,343 | |||||||||||||||
| Interest portion of rent expense | 56,513 | 51,468 | 47,541 | 44,849 | 40,246 | |||||||||||||||
| Total fixed charges | $ | 204,017 | $ | 173,311 | $ | 170,852 | $ | 156,976 | $ | 144,930 | ||||||||||
| Ratio of earnings to fixed charges | 6.1 | 6.8 | 6.5 | 6.7 | 7.0 | |||||||||||||||