1
EXHIBIT 99.1
Schedule of computation of ratio of earnings to fixed charges of The Kroger Co.
and consolidated subsidiary companies for the five fiscal years ended January 2,
1999 and for the two quarters ended August 14, 1999 and June 13, 1998.
2 Quarters Ended Fiscal Years Ended
------------------------ ----------------------------------------------------------------
August 14, June 13, January 2, December 27, December 28, December 30, December 31,
1999 1998 1999 1997 1996 1995 1994
(28 Weeks) (24 Weeks) (53 Weeks) (52 Weeks) (52 Weeks) (52 weeks) (52 weeks)
---------- ----------- ------------ ------------ ----------- ------------ ------------
(in millions of dollars)
Earnings
Earnings (loss) from
continuing operations
before tax expense
and extraordinary loss . $ 453 $ 178 $ 871 $ 954 $ 701 $ 591 $ 473
Fixed charges. . . . . . 563 512 1,038 679 595 596 582
Capitalized interest . . (3) (4) (9) (10) (12) (11) (5)
------ ------ ------ ------ ------ ------ ------
$1,013 $ 686 $1,900 $1,623 $1,284 $1,176 $1,050
====== ====== ====== ====== ====== ====== ======
Fixed Charges
Interest . . . . . . . . $ 351 $ 324 $ 654 $ 397 $ 361 $ 369 $ 356
Portion of rental
payments deemed to be
interest. . . . . . . . 212 188 384 282 234 227 226
------ ------ ------ ------ ------- ------ ------
$ 563 $ 512 $1,038 $ 679 $ 595 $ 596 $ 582
====== ====== ====== ====== ======= ====== ======
Ratio of earnings to
fixed charges . . . . . 1.8 1.3 1.8 2.4 2.2 2.0 1.8