EXHIBIT 12
DARDEN RESTAURANTS, INC.
COMPUTATION OF RATIO OF CONSOLIDATED EARNINGS TO FIXED CHARGES
(Dollar amounts in millions)
(Unaudited)
Three Months Ended | Six Months Ended | ||||||||||||||
November 27, 2011 | November 28, 2010 | November 27, 2011 | November 28, 2010 | ||||||||||||
Consolidated earnings from continuing operations before income taxes | $ | 72.5 | $ | 103.2 | $ | 219.5 | $ | 262.3 | |||||||
Plus fixed charges: | |||||||||||||||
Gross interest expense(1) | 26.5 | 24.4 | 49.1 | 50.1 | |||||||||||
40% of restaurant and equipment minimum rent expense | 12.9 | 11.9 | 25.6 | 23.5 | |||||||||||
Total fixed charges | 39.4 | 36.3 | 74.7 | 73.6 | |||||||||||
Less capitalized interest | (1.0 | ) | (0.7 | ) | (1.7 | ) | (1.4 | ) | |||||||
Consolidated earnings from continuing operations before income taxes available to cover fixed charges | $ | 110.9 | $ | 138.8 | $ | 292.5 | $ | 334.5 | |||||||
Ratio of consolidated earnings from continuing operations to fixed charges | 2.8 | 3.8 | 3.9 | 4.5 |
(1) Gross interest expense includes interest recognized in connection with our unrecognized income tax benefits