Exhibit 12
Fleming Companies, Inc.
Computation of Ratio of Earnings to Fixed Charges
16 Weeks Ended
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April 21, April 15,
(Dollars in thousands) 2001 2000
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Earnings:
Pretax earnings (loss) $ 27,209 $(43,265)
Fixed charges, net 62,290 61,135
Total earnings $ 89,499 $ 17,870
Fixed charges:
Interest expense $ 57,502 $ 53,101
Portion of rental charges
deemed to be interest 4,604 7,876
Capitalized interest 409 185
Total fixed charges $ 62,515 $ 61,162
Deficiency - $ 43,292
Ratio of earnings
to fixed charges 1.43 .29
"Earnings" consists of income before income taxes and fixed charges excluding
capitalized interest. Capitalized interest amortized during the respective
periods is added back to earnings.
"Fixed charges, net" consists of interest expense, an estimated amount of rental
expense which is deemed to be representative of the interest factor and
amortization of capitalized interest.
The pro forma ratio of earnings to fixed charges is omitted as it is not
applicable.
Under the company's long-term debt agreements, "earnings" and "fixed charges"
are defined differently and amounts and ratios differ accordingly.
Results excluding strategic plan adjustments and one-time items are as follows:
16 Weeks Ended
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April 21, April 15,
2001 2000
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Total adjusted earnings $89,111 $81,703
Total adjusted fixed charges $59,682 $61,162
Adjusted ratio of earnings to
fixed charges 1.49 1.34