Exhibit 12
SUPERVALU INC.
Ratio of Earnings to Fixed Charges
(unaudited)
Third Quarter | Fiscal Year-to-Date | Fiscal Year End | Fiscal Year End | Fiscal Year End | Fiscal Year End | ||||||||||||||||||
December 4, 2004 | December 4, 2004 | February 28, 2004 | February 22, 2003 | February 23, 2002 | February 24, 2001 | ||||||||||||||||||
Earnings before income taxes | $ | 103,084 | $ | 465,772 | $ | 454,880 | $ | 408,004 | $ | 331,998 | $ | 139,590 | |||||||||||
Less undistributed earnings of less than fifty percent owned affiliates | 1,339 | (1,071 | ) | (15,793 | ) | (16,368 | ) | (13,450 | ) | (9,429 | ) | ||||||||||||
Earnings before income taxes | 104,423 | 464,701 | 439,087 | 391,636 | 318,548 | 130,161 | |||||||||||||||||
Interest expense | 29,072 | 106,945 | 165,581 | 182,499 | 194,294 | 212,898 | |||||||||||||||||
Interest on operating leases | 9,589 | 30,945 | 44,280 | 44,864 | 35,971 | 29,047 | |||||||||||||||||
Subtotal | 143,084 | 602,591 | 648,948 | 618,999 | 548,813 | 372,106 | |||||||||||||||||
Total fixed charges | $ | 38,661 | $ | 137,890 | $ | 209,861 | $ | 227,363 | $ | 230,265 | $ | 241,945 | |||||||||||
Ratio of earnings to fixed charges | 3.70 | 4.37 | 3.09 | 2.72 | 2.38 | 1.54 | |||||||||||||||||