FRED MEYER, INC. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In thousands, except ratio)
1993 1994 1995 1996 1997
--------- -------- -------- -------- ---------
Income before taxes &
extraordinary charge $ 120,502 $ 11,561 $ 48,849 $ 94,428 $ 173,769
Add fixed charges 92,179 93,090 114,231 117,678 178,968
--------- -------- -------- -------- ---------
Earnings for computation
purposes 212,681 104,651 163,080 212,106 352,737
Fixed charges (interest on
debt, expensed or
capitalized) 93,868 95,610 117,860 117,799 179,512
--------- -------- -------- -------- ---------
Ratio of earnings to
fixed charges 2.27 1.09 1.38 1.80 1.96
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