Darden Restaurants (DRI) 10-Q2015 Q1 Quarterly report

Filed: 3 Oct 14, 12:00am

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New words: absence, accompanying, add, agenda, agreed, allocated, appeal, appoint, appointment, ASR, ASU, attract, breakage, called, canceled, caption, choose, Clarence, classification, Codification, commensurate, composition, comprised, constitute, contemplate, contest, conversion, cumulative, daily, dairy, Dealer, decertify, depict, derecognize, difficult, director, disposal, disposed, dissident, Distinguishing, distract, distraction, earlier, entity, exceeded, exceeding, experience, exploited, Fargo, FASB, foregoing, Goldman, guarantee, instability, Jr, landlord, lead, leaving, LP, modified, motion, National, occurrence, parcel, perception, permanent, Plant, platform, prolonged, proxy, qualified, qualifying, reclassification, recognition, redemption, remote, repaid, replaced, replacement, restated, retrospective, satisfaction, satisfied, scheduled, segregated, serve, serving, simultaneously, single, slightly, Starboard, stepping, strategy, structure, successor, Sunday, technical, threat, transfer, transferred, transition, turn, unable, uncertainty, undergoing

Removed: accrue, acquired, acquisition, backed, butter, carryforward, collectively, combine, correlated, designate, diesel, directly, disclosed, diversity, efficiency, eliminate, extend, facility, February, FICA, fuel, gas, highly, integrate, lost, practice, salary, specifically, strong, successfully, supporting, utilize

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EXHIBIT 12

DARDEN RESTAURANTS, INC.

COMPUTATION OF RATIO OF CONSOLIDATED EARNINGS TO FIXED CHARGES

(Dollar amounts in millions)

(Unaudited)



	Three Months Ended
	August 24, 2014			August 25, 2013
Consolidated earnings from continuing operations before income taxes	$	(43.7	)	$	49.8
Plus fixed charges:
Gross interest expense⁽¹⁾	111.5			33.8
40% of restaurant and equipment minimum rent expense	15.7			13.8
Total fixed charges	127.2			47.6
Less capitalized interest	(0.1		)	(1.0		)
Consolidated earnings from continuing operations before income taxes available to cover fixed charges	$	83.4		$	96.4
Ratio of consolidated earnings from continuing operations to fixed charges	0.7			2.0

(1) Gross interest expense includes interest recognized in connection with our unrecognized income tax benefits