EXHIBIT 12-1
Computation of ratios
(Dollars in thousands)
Sixteen Weeks Ended | |||||||
May 20, 2002 | May 21, 2001 | ||||||
Earnings before fixed charges: | |||||||
Earnings (loss) before income taxes and cumulative effect of accounting change for goodwill | $ | 10,488 | $ | (36,232 | ) | ||
Fixed charges | 21,915 | 32,336 | |||||
$ | 32,403 | $ | (3,896 | ) | |||
Fixed charges: | |||||||
Interest expense | $ | 13,917 | $ | 22,544 | |||
Interest expense component of rent expense (1) | 7,998 | 9,792 | |||||
$ | 21,915 | $ | 32,336 | ||||
Deficiency of earnings to cover fixed charges | N/A | $ | 36,232 | ||||
Facility action charges, net | N/A | (28,220 | ) | ||||
Deficiency of earnings to cover fixed charges excluding facility action charges, net | N/A | $ | 8,012 | ||||
Fixed charges coverage ratio | 1.5X | N/A |
(1) | Calculated as one-third of rent expense |