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EXHIBIT 12
Historical Costs
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Fiscal Year Ended Six Months Ended
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December 30, December 29, December 28, January 2, January 1, July 3, July 2,
1993 1994 1995 1997 1998 1997 1998
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(in millions, except for ratios)
Income (loss) before income taxes and
loss (gain) on extraordinary item $ 13.8 $ 21.2 $ 30.1 $ 46.7 $ 54.3 $ 25.3 $ (32.1)
Adjustments:
Interest expense 7.0 7.5 10.7 12.8 14.0 6.1 13.3
Amortization of debt issuance costs 0.4 0.3 0.3 0.6 0.5 0.4 0.7
Portion of rent expense related to
Interest cost 9.3 10.8 11.5 13.8 17.9 8.7 11.6
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Earnings $ 30.5 $ 39.8 $ 52.6 $ 73.9 $ 86.7 $ 40.5 $ (6.5)
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Fixed charges:
Interest expense $ 7.0 $ 7.5 $ 10.7 $ 12.8 $ 14.0 $ 6.1 $ 13.3
Interest capitalized -- 0.4 1.2 1.7 2.6 1.1 1.4
Amortization of debt issuance costs 0.4 0.3 0.3 0.6 0.5 0.4 0.7
Portion of rent expense related to
Interest cost 9.3 10.8 11.5 13.8 17.9 8.7 11.6
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Fixed charges $ 16.7 $ 19.0 $ 23.7 $ 28.9 $ 35.0 $ 16.3 $ 27.0
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Ratio of earnings to fixed charges 1.8 2.1 2.2 2.6 2.5 2.5 --
Deficiency of earnings to cover
fixed charges -- -- -- -- -- -- $ 33.5
Pro Forma
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Year 6 Mos.
ended Ended
1/1/98 7/2/98
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Income (loss) before income taxes and
loss (gain) on extraordinary item $ (28.1) $ (56.4)
Adjustments:
Interest expense 103.5 54.0
Amortization of debt issuance costs 1.9 0.3
Portion of rent expense related to
Interest cost 23.1 14.8
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Earnings $ 100.4 $ 12.7
Fixed charges:
Interest expense $ 103.5 $ 54.0
Interest capitalized 4.9 2.8
Amortization of debt issuance costs 1.9 0.3
Portion of rent expense related to
Interest cost 23.1 14.8
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Fixed charges $ 133.4 $ 71.9
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Deficiency of earnings to cover
fixed charges $ 33.0 $ 59.2