EXHIBIT 99.1
Schedule of computation of ratio of earnings to fixed charges of The
Kroger Co. and consolidated subsidiary companies and unconsolidated
companies as if consolidated for the five fiscal years ended December
27, 1997 and for the two quarters ended June 13, 1998 and June 14,
1997.
2 Quarters Ended Fiscal Years Ended
--------------------- ---------------------------------------------------------------
June 13, June 14, December 27, December 28, December 30, December 31, January 1,
1998 1997 1997 1996 1995 1994 1994
(12 Weeks) (12 Weeks) (52 Weeks) (52 Weeks) (52 Weeks) (52 weeks) (52 weeks)
---------- ---------- ------------ ------------ ------------ ------------ ----------
(in thousands of dollars)
Earnings
Earnings from continuing
operations before tax
expense, extraordinary
loss and cumulative
effect of change in
accounting . . . . . . . $235,568 $325,796 $712,363 $567,313 $509,538 $421,363 $283,938
Fixed charges. . . . . . 225,254 227,318 482,338 482,680 489,939 500,599 556,008
Capitalized interest . . (3,696) (4,146) (8,550) (10,887) (6,785) (2,521) 230
-------- -------- ---------- ---------- -------- -------- --------
$457,126 $548,968 $1,186,151 $1,039,106 $992,692 $919,441 $840,176
======== ======== ========== ========== ======== ======== ========
Fixed Charges
Interest . . . . . . . . $131,528 $141,946 $294,985 $311,958 $320,236 $331,097 $391,693
Portion of rental
payments deemed to be
interest. . . . . . . . 93,726 85,372 187,353 170,722 169,703 169,502 164,315
-------- -------- ---------- -------- -------- -------- --------
$225,254 $227,318 $ 482,338 $482,680 $489,939 $500,599 $556,008
======== ======== ========== ======== ======== ======== ========
Ratio of Earnings to
Fixed Charges . . . . . 2.0 2.4 2.5 2.2 2.0 1.8 1.5