EX-12.1
Published on April 5, 2013
Exhibit 12.1
Computation of Ratio of Earnings to Fixed Charges
(In millions, except ratios)
Ratio of Earnings to Fixed Charges:
|
Fiscal Year Ended |
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|
Dec 29, 2012 |
Dec 31, 2011 |
Dec 25, 2010 |
Dec 26, 2009 |
Dec 27, 2008 |
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| Interest expense |
$ | 175 | $ | 180 | $ | 199 | $ | 438 | $ | 391 | ||||||||||
| Capitalized interest |
| | | 1 | 9 | |||||||||||||||
| Estimated interest portion of rent expense |
14 | 16 | 16 | 20 | 28 | |||||||||||||||
| Class B preferred accretion |
| | | 72 | | |||||||||||||||
| Fixed charges |
$ | 189 | $ | 196 | $ | 215 | $ | 531 | $ | 428 | ||||||||||
| Income (loss) from continuing operations before equity income (loss) and dilution in investees, income taxes and noncontrolling interest |
$ | (1,217 | ) | $ | (1 | ) | $ | 971 | $ | 408 | $ | (2,344 | ) | |||||||
| Fixed charges |
189 | 196 | 215 | 531 | 428 | |||||||||||||||
| Less: Class B preferred accretion |
| | | (72 | ) | | ||||||||||||||
| Less: interest charges capitalized |
| | | (1 | ) | (9 | ) | |||||||||||||
| Earnings (loss) |
$ | (1,028 | ) | $ | 195 | $ | 1,186 | $ | 866 | $ | (1,925 | ) | ||||||||
| Ratio of earnings to fixed charges |
* | * | 5.52 | 1.63 | * | |||||||||||||||
| * | For the years ended December 29, 2012, December 31, 2011 and December 27, 2008, earnings were insufficient to cover fixed charges by approximately $1.0 billion, $1 million and $2.4 billion, respectively. |