Exhibit 12.1
Computation of Ratio of Earnings to Fixed Charges
(dollars in millions)
Ratio of Earnings to Fixed Charges:
| Fiscal Year Ended |
Nine Month Ended |
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| Dec 26, 2009 |
Dec 27, 2008 |
Dec 29, 2007 |
Dec 31, 2006 |
Dec 31, 2005 |
Sept 25, 2010 |
Sept 26, 2009 |
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| Interest expense |
438 | 391 | 382 | 126 | 105 | 160 | 319 | |||||||||||||||||||||
| Capitalized interest |
1 | 9 | 23 | 10 | 35 | 0 | 1 | |||||||||||||||||||||
| Estimated interest portion of rent expense |
20 | 28 | 29 | 15 | 16 | 12 | 16 | |||||||||||||||||||||
| Class B preferred accretion |
72 | 0 | 0 | 0 | 0 | 0 | 50 | |||||||||||||||||||||
| Fixed charges |
$ | 531 | $ | 428 | $ | 434 | $ | 151 | $ | 156 | $ | 172 | $ | 386 | ||||||||||||||
| 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 | 581 | (783 | ) | |||||||||||||||||
| Fixed charges |
531 | 428 | 434 | 151 | 156 | 172 | 386 | |||||||||||||||||||||
| Less: Class B preferred accretion |
(72 | ) | 0 | 0 | 0 | 0 | 0 | (50 | ) | |||||||||||||||||||
| Less: interest charges capitalized |
(1 | ) | (9 | ) | (23 | ) | (10 | ) | (35 | ) | 0 | (1 | ) | |||||||||||||||
| Earnings (loss) |
$ | 866 | $ | (1,925 | ) | $ | (2,326 | ) | $ | 101 | $ | 151 | $ | 753 | $ | (448 | ) | |||||||||||
| Ratio of earnings to fixed charges |
1.63 | * | * | * | * | 4.38 | * | |||||||||||||||||||||
| * | For the years ended December 27, 2008, December 29, 2007, December 31, 2006, December 31, 2005 and the nine months ended Sept 26, 2009, earnings were insufficient to cover fixed charges by approximately $2.4 billion, $2.8 billion, $50 million, $5 million and $834 million, respectively. |