EXHIBIT 12
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In thousands)
December 29, | December 30, | December 31, | January 2, | January 3, | |||||||||||||||||
2002 | 2001 | 2000 | 2000 | 1999 | |||||||||||||||||
Earnings (loss) from continuing operations before income taxes | $ | (2,210 | ) | $ | (187,039 | ) | $ | (249,388 | ) | $ | 67,230 | $ | 68,658 | ||||||||
Add: | |||||||||||||||||||||
Interest on indebtedness | 43,774 | 47,250 | 55,191 | 52,876 | 44,766 | ||||||||||||||||
Amortization of debt expense | 1,542 | 1,766 | 907 | 729 | 239 | ||||||||||||||||
Portion of rents representative of the interest factor | 8,859 | 10,608 | 10,026 | 10,484 | 8,166 | ||||||||||||||||
Deduct: | |||||||||||||||||||||
Undistributed earnings from less-than-50- percent-owned entities | 160 | (90 | ) | (2,102 | ) | (22,429 | ) | (10,665 | ) | ||||||||||||
Earnings (as defined) | $ | 52,125 | (a) | $ | (127,505 | )(b) | $ | (185,366 | )(c) | $ | 108,890 | $ | 111,164 | ||||||||
Fixed charges: | |||||||||||||||||||||
Interest on indebtedness | 43,774 | 47,250 | 55,191 | 52,876 | 44,766 | ||||||||||||||||
Amortization of debt expense | 1,542 | 1,766 | 907 | 729 | 239 | ||||||||||||||||
Portion of rents representative of the interest factor | 8,859 | 10,608 | 10,026 | 10,484 | 8,166 | ||||||||||||||||
Total fixed charges | $ | 54,175 | $ | 59,624 | $ | 66,124 | $ | 64,089 | $ | 53,171 | |||||||||||
Ratio of earnings to fixed charges | 1.0 | x(a) | — | (b) | — | (c) | 1.7 | x | 2.1 | x | |||||||||||
(a) | Earnings were insufficient to cover fixed charges for the year ended December 29, 2002 by $2,050. |
(b) | Earnings were insufficient to cover fixed charges for the year ended December 30, 2001 by $187,129. |
(c) | Earnings were insufficient to cover fixed charges for the year ended December 31, 2000 by $251,490. |