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Exhibit 12.1

STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

81

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fiscal Years Ended(1) 

 

Nine Months Ended(2) 

 

 

Sept. 27,
2008 

 

Sept. 26,
2009 

 

Sept. 25,
2010 

 

Sept. 24,
2011 

 

Sept. 29,
2012 

 

June 23,
2012 

 

June 29,
2013 

 

 

(in thousands of dollars)

 

 

Earnings

 

 

 

 

 

 

 

Net income.............................................
$
52,123 
$
27,934 
$
30,842 
$
39,060 
$
43,444 
$
30,168 
$
5,234 

Fixed charges (from below)............
59,791 
75,101 
78,068 
75,278 
73,144 
54,523 
71,674 

Less capitalized interest...................
(4,597)
(2,584)
(1,283)
(1,588)
(1,738)

(1,213)

(456)

Income tax expense..........................
27,559 
16,779 
17,975 
21,651 
23,903 
16,609 
584 

Amortization of capitalized interest
1,246 
1,332 
1,375 
1,428 
1,486 
728 
748 

 

 

 

 

 

 

 

 

 
$
136,122 
$
118,562 
$
126,977 
$
135,829 
$
140,239 
$
100,815 
$
77,784 

 

 

 

 

 

 

 

 

Fixed Charges

 

 

 

 

 

 

 

Interest expense..................................
$
46,886 
$
59,059 
$
64,854 
$
61,966 
$
60,027 
$
44,850 
$
47,281 

Capitalized interest.............................
4,597 
2,584 
1,283 
1,588 
1,738 
1,213 
456 

Loan cost amortization expense...
1,320 
5,984 
4,304 
4,450 
4,457 
3,281 
18,611 

Estimate of interest within rent expense
6,988 
7,474 
7,627 
7,274 
6,923 
5,179 
5,326 

 

 

 

 

 

 

 

 

 
$
59,791 
$
75,101 
$
78,068 
$
75,278 
$
73,144 
$
54,523 
$
71,674 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges
2.28 
1.58 
1.63 
1.80 
1.92 
1.85 
1.09 

 

___________

(1)            Fiscal year 2012 was a 53-week year, whereas fiscal years 2008, 2009, 2010 and 2011 were 52-week years.

(2)            The nine month periods ended June 23, 2012 and June 29, 2013, respectively, each consist of 39 weeks.