Exhibit 12.0 WINN-DIXIE STORES, INC. COMPUTATION OF CONSOLIDATED RATIOS OF EARNINGS TO FIXED CHARGES --------------------------------------------------------------- (Amounts in thousands except ratios) Fiscal Year Ended 6/26/02 6/27/01 6/28/00 6/30/1999** 6/24/98 ------- ------- ------- ----------- ------- Excluding non-recurring charges Fixed charges: Interest expense $ 57,839 52,845 47,088 29,651 28,542 Capitalized interest 642 5,863 - - - Interest component of rental expense 206,104 226,183 237,990 230,890 210,532 --------- ------- ------- ------- ------- Fixed charges $ 264,585 284,891 285,078 260,541 239,074 ========= ======= ======== ======= ======= Earnings: Income (loss) from continuing operations before taxes $ 308,167 124,824 (277,184) 304,358 316,222 Non-recurring charges 126,394 147,245 404,969 - 18,100 Add: Fixed charges 264,585 284,891 285,078 260,541 239,074 Less: Capitalized interest (642) (5,863) - - - --------- ------- ------- ------- ------- Total earnings $ 698,504 551,097 412,863 564,899 573,396 ========= ======= ======= ======= ======= Ratio of earnings to fixed charges: Total earnings $ 698,504 551,097 412,863 564,899 573,396 Fixed charges $ 264,585 284,891 285,078 260,541 239,074 Ratio 2.6 1.9 1.4 2.2 2.4 As reported Fixed charges: Interest expense $ 57,839 52,845 47,088 29,651 28,542 Capitalized interest 642 5,863 - - - Interest component of rental expense 206,104 226,183 237,990 230,890 210,532 --------- ------- ------- ------- ------- Fixed charges $ 264,585 284,891 285,078 260,541 239,074 ========= ======= ======= ======= ======= Earnings: Income (loss) from continuing operations before taxes $ 308,167 124,824 (277,184) 304,358 316,222 Add: Fixed charges 264,585 284,891 285,078 260,541 239,074 Less: Capitalized interest (642) (5,863) - - - --------- ------- ------- ------- ------- Total earnings $ 572,110 403,852 7,894 564,899 555,296 ========= ======= ======= ======= ======= Ratio of earnings to fixed charges: Total earnings (loss) $ 572,110 403,852 7,894 564,899 555,296 Fixed charges $ 264,585 284,891 285,078 260,541 239,074 Ratio 2.2 1.4 * 2.2 2.3 - ---------- <FN> *For fiscal year ended June 28, 2000, earnings were inadequate to cover fixed charges due to non-recurring charges totaling $405 million relating to the restructuring and other non-recurring charges. The dollar amount of the coverage deficiency for the year ended June 28, 2000 was $302 million. **53 weeks </FN>