Attached files
Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
AND PREFERRED UNIT DISTRIBUTIONS
(in millions, except ratio amounts)
Year-to-date ended | ||||||||
June 18, 2010 |
June 19, 2009 |
|||||||
Loss from continuing operations before income taxes |
$ | (78 | ) | $ | (69 | ) | ||
Add (deduct): |
||||||||
Fixed charges |
210 | 202 | ||||||
Capitalized interest |
(1 | ) | (5 | ) | ||||
Amortization of capitalized interest |
3 | 3 | ||||||
Equity in (earnings)/losses related to certain 50% or less owned affiliates |
5 | 34 | ||||||
Distributions from equity investments |
2 | 1 | ||||||
Distributions on preferred units |
(4 | ) | (4 | ) | ||||
Issuance costs of redeemed preferred OP units |
(4 | ) | | |||||
Adjusted earnings |
$ | 133 | $ | 162 | ||||
Fixed charges: |
||||||||
Interest on indebtedness and amortization of deferred financing costs |
$ | 179 | $ | 169 | ||||
Capitalized interest |
1 | 5 | ||||||
Distributions on preferred units |
4 | 4 | ||||||
Issuance costs of redeemed preferred OP units |
4 | | ||||||
Portion of rents representative of the interest factor |
22 | 24 | ||||||
Total fixed charges and preferred unit distributions |
$ | 210 | $ | 202 | ||||
Deficiency of earnings to fixed charges and preferred unit distributions |
$ | (77 | ) | $ | (40 | ) |
46