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EXHIBIT 12.1
RATIO OF EARNINGS TO FIXED CHARGES
26 Weeks Ended
July 3, January 1, January 3, January 4, December 29, December 30,
2005 2005 2004 2003 2001 2000
-------------- ---------- ---------- ---------- ------------ ------------
(in '000s)
EARNINGS
- -----------------------------
Pre-tax income (loss) $ 10,587 $ 67,927 $ 63,978 $ 54,628 $(86,593) $ 33,077
Equity in earnings of equity
investees (200) (541) (3,371) (3,130) 59 122
Earnings from non-controlling
interest 1,421 2,021 -- -- -- --
Amortization of capitalized
interest -- -- -- -- -- --
Equity investee distributions 450 1,769 678 750 603 --
Interest capitalized (12) (237) -- -- -- --
Fixed charges 19,475 32,100 30,423 30,976 33,266 33,532
-------- --------- -------- -------- -------- --------
Total earnings $ 31,721 $103,039 $ 91,708 $ 83,224 $(52,665) $ 66,731
FIXED CHARGES
- -----------------------------
Interest expense $ 18,953 $ 30,843 $ 29,663 $ 30,246 $ 32,324 $ 32,401
Interest capitalized 12 237 -- -- -- --
Amortization of debt issuance
costs -- -- -- -- -- --
Interest portion of rent payments 510 1,020 760 730 942 1,131
Preferred stock dividend -- -- -- -- -- --
-------- -------- -------- -------- -------- --------
Total fixed charges $ 19,475 $ 32,100 $ 30,423 $ 30,976 $ 33,266 $ 33,532
RATIO OF EARNING TO FIXED CHARGES * 1.6x 3.2x 3.0x 2.7x -- 2.0x
* For the purpose of determining the ratio of earnings to fixed charges,
earnings consist of income (loss) before income taxes, plus equity in earnings
of equity investees and fixed charges, excluding capitalized interest. Fixed
charges consist of interest expense, whether expensed or capitalized, on debt
and amortization of deferred debt issuance costs, preferred stock dividend
requirements, if any, and that portion of rental expense which is representative
of the interest factor in those rentals. Earnings were insufficient to cover
fixed charges by approximately $85.9 million in 2001.