STATER BROS. HOLDINGS INC. Exhibit 12
Computation of Ratio of Earnings to Fixed Charges
(Dollar amounts in thousands)
Fiscal Years Ended Pro Forma
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Sept. 25, Sept. 24, Sept. 29, (1) Sept. 28, (2) Sept. 27, (2) Sept. 27, (2)
1994 1995 1996 1997 1998 1998
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Earnings:
Income before income taxes........... $14,645 $10,945 $27,131 $22,510 $ 2,496 $(6,197)
Share of undistributed (income)
loss of less than 50%-owned
affiliates.......................... 592 980 1,624 - - -
Amortization of capitalized
interest............................ 180 192 190 139 321 321
Interest............................. 15,217 18,946 19,171 21,384 30,578 53,767
Less interest capitalized
during the period................... (437) (50) (116) (1,263) (1,135) (1,135)
Net amortization of debt
discount and premium
and issuance expense................ 721 1,180 1,203 1,460 2,797 2,343
Interest portion of rental
expense............................. 13,985 13,588 13,918 15,305 15,683 18,609
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Earnings as adjusted................ $44,903 $45,781 $63,121 $59,535 $50,740 $67,708
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Fixed Charges:
Interest............................. $15,217 $18,946 $19,171 $21,384 $30,578 $53,767
Net amortization of debt
discount and premium
and issuance expense................ 721 1,180 1,203 1,460 2,797 2,343
Interest portion of rental
expense............................. 13,985 13,588 13,918 15,305 15,683 18,609
Preferred stock dividends............ 545 - 6,967 10,451 - -
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Fixed Charges....................... $30,468 $33,714 $41,259 $48,600 $49,058 $74,719
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Ratio of Earnings to
Fixed Charges................... 1.47 1.36 1.53 1.23 1.03 .91
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39 Weeks Ended
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Pro Forma
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June 28, June 27, (2) June 27, (2)
1999 1999 1999
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Earnings:
Income before income taxes........... $ (231) $16,021 $15,420
Share of undistributed (income)
loss of less than 50%-owned
affiliates.......................... - - -
Amortization of capitalized
interest............................ 237 237 237
Interest............................. 22,749 23,995 41,379
Less interest capitalized
during the period................... (1,109) (64) (64)
Net amortization of debt
discount and premium
and issuance expense................ 2,088 2,114 1,762
Interest portion of rental
expense............................. 12,463 12,246 14,210
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Earnings as adjusted................ $36,197 $54,549 $72,944
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Fixed Charges:
Interest............................. $22,749 $23,995 $41,379
Net amortization of debt
discount and premium
and issuance expense................ 2,088 2,114 1,762
Interest portion of rental
expense............................. 12,463 12,246 14,210
Preferred stock dividends............ - - -
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Fixed Charges....................... $37,300 $38,355 $57,351
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Ratio of Earnings to
Fixed Charges................... .97 1.42 1.27
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(1) 53-Week Fiscal Year
(2) Includes the Company's 50% share of the fixed charges and earnings of an
unconsolidated affiliate.