Exhibit 12.1
Computation of Ratio of Earnings to Fixed Charges
(Dollar amounts in thousands)
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| | Sept. 24, 2006(1) | | | Sept. 30, 2007(1) | | | Sept. 28, 2008(1) | | | Sept. 27, 2009(1) | | | Sept. 26, 2010(1) | | | June 27, 2010(2) | | | June 26, 2011(2) | |
Earnings: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Income before income taxes | | $ | 44,011 | | | $ | 82,674 | | | $ | 66,630 | | | $ | 54,250 | | | $ | 41,171 | | | $ | 31,293 | | | $ | 28,707 | |
Amortization of capitalized interest | | | 219 | | | | 226 | | | | 469 | | | | 849 | | | | 843 | | | | 633 | | | | 621 | |
Interest | | | 58,476 | | | | 67,849 | | | | 65,531 | | | | 65,572 | | | | 65,330 | | | | 49,146 | | | | 40,234 | |
Less interest capitalized during the period | | | (4,276 | ) | | | (9,806 | ) | | | (11,261 | ) | | | (522 | ) | | | (16 | ) | | | (16 | ) | | | (233 | ) |
Net amortization of debt discount and premium and issuance expense | | | 3,038 | | | | 5,496 | | | | 3,193 | | | | 3,202 | | | | 3,202 | | | | 2,408 | | | | 5,436 | |
Interest portion of rental expense | | | 23,681 | | | | 21,762 | | | | 23,021 | | | | 25,319 | | | | 26,891 | | | | 20,389 | | | | 20,737 | |
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Earnings as adjusted | | $ | 125,149 | | | $ | 168,201 | | | $ | 147,583 | | | $ | 148,670 | | | $ | 137,421 | | | $ | 103,853 | | | $ | 95,502 | |
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Fixed charges: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Interest | | $ | 58,476 | | | $ | 67,849 | | | $ | 65,531 | | | $ | 65,572 | | | $ | 65,330 | | | $ | 49,146 | | | $ | 40,234 | |
Net amortization of debt discount and premium and issuance expense | | | 3,038 | | | | 5,496 | | | | 3,193 | | | | 3,202 | | | | 3,202 | | | | 2,408 | | | | 5,436 | |
Interest portion of rental expense | | | 23,681 | | | | 21,762 | | | | 23,021 | | | | 25,319 | | | | 26,891 | | | | 20,389 | | | | 20,737 | |
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Fixed charges | | $ | 85,195 | | | $ | 95,107 | | | $ | 91,745 | | | $ | 94,093 | | | $ | 95,423 | | | $ | 71,943 | | | $ | 66,407 | |
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Ratio of Earnings to Fixed Charges | | | 1.47 | | | | 1.77 | | | | 1.61 | | | | 1.58 | | | | 1.44 | | | | 1.44 | | | | 1.44 | |
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(1) | Fiscal years 2006, 2008, 2009 and 2010 were 52-week years while fiscal 2007 was a 53-week year |
(2) | Thirty-nine week periods |