Attached files
| file | filename |
|---|---|
| EX-32.1 - EXHIBIT 32.1 - Albertsons Companies, LLC | aclq2-17ex321.htm |
| EX-31.2 - EXHIBIT 31.2 - Albertsons Companies, LLC | aclq2-17ex312.htm |
| EX-31.1 - EXHIBIT 31.1 - Albertsons Companies, LLC | aclq2-17ex311.htm |
| 10-Q - 10-Q - Albertsons Companies, LLC | aclq217stmt.htm |
Exhibit 12.1
ALBERTSONS COMPANIES, LLC
Computation of Ratio of Earnings to Fixed Charges
(in millions)
(unaudited)
28 weeks ended September 9, 2017 | Fiscal 2016 | Fiscal 2015 | Fiscal 2014 | Fiscal 2013 | Fiscal 2012 | ||||||
Earnings: | |||||||||||
Pre-tax (loss) income | $(627.4) | $(463.6) | $(541.8) | $(1,378.6) | $1,140.5 | $31.5 | |||||
Income from unconsolidated affiliate (1) | 8.8 | 17.5 | 14.4 | 1.1 | - | - | |||||
(Loss) income before tax and unconsolidated affiliate | (636.2) | (481.1) | (556.2) | (1,379.7) | 1,140.5 | 31.5 | |||||
Plus: fixed charges | |||||||||||
Interest expense, net (2) | 485.3 | 1,003.8 | 950.5 | 633.2 | 390.1 | 7.2 | |||||
Capitalized interest | 2.5 | 7.8 | 2.1 | 0.5 | 0.1 | - | |||||
Portion of rent expense deemed to be interest | 149.2 | 268.5 | 260.4 | 125.3 | 101.4 | 18.0 | |||||
Interest income | 3.4 | 3.9 | 7.4 | 1.4 | 1.6 | 0.2 | |||||
Charges related to guarantee obligations | - | 1.6 | 30.6 | - | - | - | |||||
Total fixed charges | 640.4 | 1,285.6 | 1,251.0 | 760.4 | 493.2 | 25.4 | |||||
Less: capitalized interest | (2.5) | (7.8) | (2.1) | (0.5) | (0.1) | - | |||||
Earnings: | $1.7 | $796.7 | $692.7 | $(619.8) | $1,633.6 | $56.9 | |||||
Fixed Charges: | $640.4 | $1,285.6 | $1,251.0 | $760.4 | $493.2 | $25.4 | |||||
Ratio of earnings to fixed charges (3) | - | - | - | - | 3.3 | 2.2 | |||||
(1) | Represents earnings related to the Company’s equity method investment in Casa Ley, S.A. de C.V. |
(2) | Interest expense, net does not include interest relating to liabilities for uncertain tax positions, which the Company records as a component of income tax expense. |
(3) | Due to the Company’s losses during the 28 weeks ended September 9, 2017, fiscal 2016, fiscal 2015 and fiscal 2014, the ratio coverage was less than 1:1 in each of those periods. The Company would have needed to generate additional earnings of $638.7 million, $488.9 million, $558.3 million and $1,380.2 million during the 28 weeks ended September 9, 2017, fiscal 2016, fiscal 2015 and fiscal 2014, respectively, in order to achieve a coverage ratio of 1:1 during those periods. |