EXHIBIT 12
DARDEN RESTAURANTS, INC.
COMPUTATION OF RATIO OF CONSOLIDATED EARNINGS TO FIXED CHARGES
(Dollar amounts in millions)
(Unaudited)
Three Months Ended | Nine Months Ended | ||||||||||||||
February 26, 2012 | February 27, 2011 | February 26, 2012 | February 27, 2011 | ||||||||||||
Consolidated earnings from continuing operations before income taxes | $ | 217.8 | $ | 199.1 | $ | 437.3 | $ | 461.3 | |||||||
Plus fixed charges: | |||||||||||||||
Gross interest expense(1) | 29.1 | 25.0 | 78.3 | 75.0 | |||||||||||
40% of restaurant and equipment minimum rent expense | 13.6 | 12.2 | 39.2 | 35.8 | |||||||||||
Total fixed charges | 42.7 | 37.2 | 117.5 | 110.8 | |||||||||||
Less capitalized interest | (1.3 | ) | (0.8 | ) | (3.0 | ) | (2.2 | ) | |||||||
Consolidated earnings from continuing operations before income taxes available to cover fixed charges | $ | 259.2 | $ | 235.5 | $ | 551.8 | $ | 569.9 | |||||||
Ratio of consolidated earnings from continuing operations to fixed charges | 6.1 | 6.3 | 4.7 | 5.1 |
(1) Gross interest expense includes interest recognized in connection with our unrecognized income tax benefits