Attached files
| file | filename |
|---|---|
| EX-32.2 - EX 32.2 - SUPERVALU INC | f19ex322.htm |
| EX-32.1 - EX 32.1 - SUPERVALU INC | f19ex321.htm |
| EX-31.2 - EX 31.2 - SUPERVALU INC | f19ex312.htm |
| EX-31.1 - EX 31.1 - SUPERVALU INC | f19ex311.htm |
| 10-Q - 10-Q - SUPERVALU INC | q1-f19form10xq.htm |
Exhibit 12.1
Ratio of Earnings to Fixed Charges
(In millions, except ratios)
First Quarter Ended | Fiscal Year Ended | ||||||||||||||||||
June 16, 2018(1) (16 weeks) | February 24, 2018 (52 weeks) | February 25, 2017 (52 weeks) | February 27, 2016 (52 weeks) | February 28, 2015(2) (53 weeks) | |||||||||||||||
Net (loss) earnings from continuing operations before income taxes | $ | (37 | ) | $ | 77 | $ | 20 | $ | 53 | $ | (73 | ) | |||||||
Less net earnings attributable to noncontrolling interests | — | (1 | ) | (4 | ) | (8 | ) | (7 | ) | ||||||||||
Net overdistributed earnings of less than fifty percent owned affiliates | — | 1 | — | 1 | — | ||||||||||||||
Fixed charges | 60 | 159 | 200 | 214 | 261 | ||||||||||||||
Amortized capitalized interest | — | (1 | ) | — | (1 | ) | (1 | ) | |||||||||||
Earnings available to cover fixed charges | $ | 23 | $ | 235 | $ | 216 | $ | 259 | $ | 180 | |||||||||
Interest expense | 49 | 136 | 181 | 194 | 241 | ||||||||||||||
Capitalized interest | — | 1 | — | 1 | 1 | ||||||||||||||
Interest on operating leases | 11 | 22 | 19 | 19 | 19 | ||||||||||||||
Total fixed charges | $ | 60 | $ | 159 | $ | 200 | $ | 214 | $ | 261 | |||||||||
(Deficiency) excess of earnings to fixed charges | $ | (37 | ) | $ | 76 | $ | 16 | $ | 45 | $ | (81 | ) | |||||||
Ratio of earnings to fixed charges | N/A | 1.48 | 1.08 | 1.21 | N/A | ||||||||||||||
N/A represents a ratio of less than one.
(1) | Our earnings available to cover fixed charges were insufficient to cover fixed charges for the first quarter of fiscal 2019 due to depreciation and amortization, including amounts attributable to acquired businesses, and after-tax charges and costs of $20, including store closure charges and costs, severance costs, merger and integration costs, debt refinancing costs, unamortized financing charges and holding company proposal costs, offset in part by a deferred income tax benefit and a gain on sale of property. |
(2) | Our earnings available to cover fixed charges were insufficient to cover fixed charges for fiscal 2015 due to $69 of pension, multi-employer and benefit plan settlement charge, $1 of severance costs and $1 Information technology intrusion costs, net of insurance recoverable before tax. |