EXHIBIT 12.1
SUPERMARKETS GENERAL HOLDINGS CORPORATION
STATEMENTS REGARDING COMPUTATION OF RATIO
OF EARNINGS TO FIXED CHARGES
(in thousands)
Fiscal Years
----------------------------------------------------------------
1998 1997 1996 1995 1994
--------- --------- --------- --------- ---------
Earnings (loss) from continuing
operations before taxes . $ (28,073) $ (47,295) $ (36,870) $ 48,944 $ 16,121
--------- --------- --------- --------- ---------
Fixed charges:
Interest expense 161,325 166,780 164,118 170,969 170,848
Interest portion of rental
expense(1) 12,501 12,131 10,973 10,596 12,307
--------- --------- --------- --------- ---------
Total fixed charges 173,826 178,911 175,091 181,565 183,155
--------- --------- --------- --------- ---------
Adjusted earnings before
fixed charges $ 145,753 $ 131,616 $ 138,221 $ 230,509 $ 199,276
========= ========= ========= ========= =========
Ratio of earnings to fixed
charges(2) -- -- -- 1.27x 1.09x
========= ========= ========= ========= =========
Deficiency in earnings
available to cover fixed
charges $ 28,073 $ 47,295 $ 36,870 $ -- $ --
========= ========= ========= ========= =========
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(1) Represents the portion of rentals deemed representative of the interest
included therein.
(2) For Fiscal 1995, the inclusion of preferred stock dividend requirements
results in a ratio of earnings to fixed charges and preferred stocks
dividends of 1.10x. For Fiscal 1994, the inclusion of preferred stock
dividend requirements results in a deficiency in earnings available to
cover fixed charges and preferred stock dividends of approximately $7.0
million.