EXHIBIT 12.1 SUPERVALU INC. and Subsidiaries Ratio of Earnings to Fixed Charges For Fiscal Years Ended (In thousands, except ratios) 2002 2001 2000 1999 1998 --------- --------- --------- --------- --------- Earnings before income taxes $ 343,703 $ 154,357 $ 447,454 $ 316,261 $ 384,780 Less undistributed earnings of less than fifty percent owned affiliates: (13,450) (9,429) (6,605) (5,943) (7,388) --------- --------- --------- --------- --------- Earnings before income taxes 330,253 144,928 440,849 310,318 377,392 Interest expense 194,294 212,898 154,482 124,111 133,619 Interest on operating leases 35,971 29,047 23,838 18,574 18,010 --------- --------- --------- --------- --------- $ 560,518 $ 386,873 $ 619,169 $ 453,003 $ 529,021 ========= ========= ========= ========= ========= Total fixed charges 230,265 241,945 178,320 142,685 151,629 ========= ========= ========= ========= ========= Ratio of earnings to fixed charges 2.43 1.60 3.47 3.17 3.49 ========= ========= ========= ========= =========