EXHIBIT 12
FLEMING COMPANIES, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
FISCAL YEAR ENDED THE LAST SATURDAY IN DECEMBER
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1989 1990 1991 1992 1993
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(In thousands of dollars)
Earnings:
Pretax income $139,480 $164,501 $104,329 $194,941 $72,078
Fixed charges, net 120,769 117,877 117,865 105,726 102,303
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Total earnings $260,249 $282,378 $222,194 $300,667 $174,381
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Fixed charges:
Interest expense $ 96,425 $ 93,643 $ 93,353 $ 81,102 $ 78,029
Portion of rental charges
deemed to be interest 22,945 22,836 22,907 23,027 22,969
Capitalized interest and
debt issuance cost
amortization 2,163 1,250 1,464 1,287 1,005
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Total fixed charges $121,533 $117,729 $117,724 $105,416 $102,003
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Ratio of earnings
to fixed charges 2.14 2.40 1.89 2.85 1.71
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"Earnings" consist of income from continuing operations before income taxes and
fixed charges excluding capitalized interest. Capitalized interest amortized
during the respective periods is added back to earnings.
"Fixed charges, net" consist of interest expense, an estimated amount of rental
expense which is deemed to be representative of the interest factor and
amortization of capitalized interest and debt issuance cost.
The pro forma ratio of earnings to fixed charges is omitted as it is not
applicable.
The company has guaranteed indebtedness of a customer. The related fixed
charges are not significant and are not presented in the computation of the
ratios.
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