Exhibit 12.1
Computation of Ratio of Earnings to Fixed Charges
(dollars in millions)
| Ratio of Earnings to Fixed Charges: | |||||||||||||||||||||||||||
| Fiscal Year Ended | Three Month Ended | ||||||||||||||||||||||||||
| Dec 26, 2009 |
Dec 27, 2008 |
Dec 29, 2007 |
Dec 31, 2006 |
Dec 31, 2005 |
March 27, 2010 |
March 28, 2009 |
|||||||||||||||||||||
| Interest expense |
438 | 391 | 382 | 126 | 105 | 49 | 97 | ||||||||||||||||||||
| Capitalized interest |
1 | 9 | 23 | 10 | 35 | — | — | ||||||||||||||||||||
| Estimated interest portion of rent expense |
20 | 28 | 29 | 15 | 16 | 7 | 5 | ||||||||||||||||||||
| Class B preferred accretion |
72 | — | — | — | — | — | 8 | ||||||||||||||||||||
| Fixed charges |
$ | 531 | $ | 428 | $ | 434 | $ | 151 | $ | 156 | $ | 56 | $ | 110 | |||||||||||||
| Income (loss) from continuing operations before equity in net income (loss) of investees, income taxes and noncontrolling interest |
408 | (2,344 | ) | (2,737 | ) | (40 | ) | 30 | 440 | (298 | ) | ||||||||||||||||
| Fixed charges |
531 | 428 | 434 | 151 | 156 | 56 | 110 | ||||||||||||||||||||
| Less: class B preferred accretion |
(72 | ) | — | — | — | — | — | (8 | ) | ||||||||||||||||||
| Less: capitalized interest |
(1 | ) | (9 | ) | (23 | ) | (10 | ) | (35 | ) | — | — | |||||||||||||||
| Earnings (loss) |
$ | 866 | $ | (1,925 | ) | $ | (2,326 | ) | $ | 101 | $ | 151 | $ | 496 | $ | (196 | ) | ||||||||||
| Ratio of earnings to fixed charges |
1.63x | * | * | * | * | 8.86x | * | ||||||||||||||||||||
| * | For the years ended December 27, 2008, December 29, 2007, December 31, 2006, December 31, 2005 and the three months ended March 28, 2009, earnings were insufficient to cover fixed charges by approximately $2.4 billion, $2.8 billion, $50 million, $5 million and $306 million, respectively. |