Attached files
file | filename |
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EX-32.1 - EXHIBIT 32.1 - Albertsons Companies, LLC | aclq3-17ex321.htm |
EX-31.2 - EXHIBIT 31.2 - Albertsons Companies, LLC | aclq3-17ex312.htm |
EX-31.1 - EXHIBIT 31.1 - Albertsons Companies, LLC | aclq3-17ex311.htm |
EX-10.2 - EXHIBIT 10.2 - Albertsons Companies, LLC | aclq3-17ex102.htm |
10-Q - 10-Q - Albertsons Companies, LLC | aclq3-17stmt.htm |
Exhibit 12.1
ALBERTSONS COMPANIES, LLC
Computation of Ratio of Earnings to Fixed Charges
(in millions)
(unaudited)
40 weeks ended December 2, 2017 | Fiscal 2016 | Fiscal 2015 | Fiscal 2014 | Fiscal 2013 | Fiscal 2012 | ||||||||||||||||||
Earnings: | |||||||||||||||||||||||
Pre-tax (loss) income | $ | (932.8 | ) | $ | (463.6 | ) | $ | (541.8 | ) | $ | (1,378.6 | ) | $ | 1,140.5 | $ | 31.5 | |||||||
Income from unconsolidated affiliate (1) | 12.2 | 17.5 | 14.4 | 1.1 | — | — | |||||||||||||||||
(Loss) income before tax and unconsolidated affiliate | (945.0 | ) | (481.1 | ) | (556.2 | ) | (1,379.7 | ) | 1,140.5 | 31.5 | |||||||||||||
Plus: fixed charges | |||||||||||||||||||||||
Interest expense, net (2) | 193.9 | 1,003.8 | 950.5 | 633.2 | 390.1 | 7.2 | |||||||||||||||||
Capitalized interest | 4.5 | 7.8 | 2.1 | 0.5 | 0.1 | — | |||||||||||||||||
Portion of rent expense deemed to be interest | 213.8 | 268.5 | 260.4 | 125.3 | 101.4 | 18.0 | |||||||||||||||||
Interest income | 4.3 | 3.9 | 7.4 | 1.4 | 1.6 | 0.2 | |||||||||||||||||
Charges related to guarantee obligations | — | 1.6 | 30.6 | — | — | — | |||||||||||||||||
Total fixed charges | 416.5 | 1,285.6 | 1,251.0 | 760.4 | 493.2 | 25.4 | |||||||||||||||||
Less: capitalized interest | (4.5 | ) | (7.8 | ) | (2.1 | ) | (0.5 | ) | (0.1 | ) | — | ||||||||||||
Earnings: | $ | (533.0 | ) | $ | 796.7 | $ | 692.7 | $ | (619.8 | ) | $ | 1,633.6 | $ | 56.9 | |||||||||
Fixed Charges: | $ | 416.5 | $ | 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 40 weeks ended December 2, 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 $949.5 million, $488.9 million, $558.3 million and $1,380.2 million during the 40 weeks ended December 2, 2017, fiscal 2016, fiscal 2015 and fiscal 2014, respectively, in order to achieve a coverage ratio of 1:1 during those periods. |