Exhibit 12
SUPERVALU INC.
Ratio of Earnings to Fixed Charges
(unaudited)
Third Quarter | Fiscal Year End | Fiscal Year End | Fiscal Year End | Fiscal Year End | Fiscal Year End | |||||||||||||||||||
November 30, 2002 | February 23, 2002 | February 24, 2001 | February 26, 2000 | February 27, 1999 | February 28, 1998 | |||||||||||||||||||
(In thousands, except ratios) | ||||||||||||||||||||||||
Earnings before income taxes | $ | 90,726 | $ | 331,998 | $ | 139,590 | $ | 445,393 | $ | 316,261 | $ | 384,780 | ||||||||||||
Less undistributed earnings of less than fifty percent owned affiliates | (8,737 | ) | (13,450 | ) | (9,429 | ) | (6,605 | ) | (5,943 | ) | (7,388 | ) | ||||||||||||
Earnings before income taxes | 81,989 | 318,548 | 130,161 | 438,788 | 310,318 | 377,392 | ||||||||||||||||||
Interest expense | 42,508 | 194,294 | 212,898 | 154,482 | 124,111 | 133,619 | ||||||||||||||||||
Interest on operating leases | 12,778 | 35,971 | 29,047 | 23,838 | 18,574 | 18,010 | ||||||||||||||||||
Subtotal | 137,275 | 548,813 | 372,106 | 617,108 | 453,003 | 529,021 | ||||||||||||||||||
Total fixed charges | $ | 55,286 | $ | 230,265 | $ | 241,945 | $ | 178,320 | $ | 142,685 | $ | 151,629 | ||||||||||||
Ratio of earnings to fixed charges | 2.48 | 2.38 | 1.54 | 3.46 | 3.17 | 3.49 | ||||||||||||||||||