| Year Ended Last Friday in December | ||||||||||||||||||||
| 2005 | 2004 (a) | 2003 (a) | 2002 (a) | 2001 (a) | ||||||||||||||||
| (52 weeks) | (53 weeks) | (52 weeks) | (52 weeks) | (52 weeks) | ||||||||||||||||
Pre-tax earnings (loss) (b) |
$ | 6,814 | $ | 5,436 | $ | 5,040 | $ | 2,343 | $ | (228 | ) | |||||||||
Add: Fixed charges (excluding
capitalized interest and preferred
security dividend requirements of
subsidiaries) |
21,967 | 10,734 | 8,195 | 10,164 | 17,690 | |||||||||||||||
Pre-tax earnings before fixed charges |
28,781 | 16,170 | 13,235 | 12,507 | 17,462 | |||||||||||||||
Fixed charges: |
||||||||||||||||||||
Interest |
21,752 | 10,530 | 8,003 | 9,958 | 17,437 | |||||||||||||||
Other (c) |
215 | 204 | 193 | 206 | 260 | |||||||||||||||
Total fixed charges |
21,967 | 10,734 | 8,196 | 10,164 | 17,697 | |||||||||||||||
Preferred stock dividend requirements |
100 | 54 | 52 | 51 | 54 | |||||||||||||||
Total combined fixed charges and
preferred stock dividends |
$ | 22,067 | $ | 10,788 | $ | 8,248 | $ | 10,215 | $ | 17,751 | ||||||||||
Ratio of earnings to fixed charges |
1.31 | 1.51 | 1.61 | 1.23 | 0.99 | (d) | ||||||||||||||
Ratio of earnings to combined fixed
charges and preferred stock dividends |
1.30 | 1.50 | 1.60 | 1.22 | 0.98 | (d) | ||||||||||||||
| (a) | Certain prior period amounts have been reclassified to conform to the current period presentation. | |
| (b) | Excludes undistributed earnings (loss) from equity investments. | |
| (c) | Other fixed charges consist of the interest factor in rentals, amortization of debt issuance costs, preferred security dividend requirements of subsidiaries, and capitalized interest. | |
| (d) | Earnings were insufficient to cover fixed charges and combined fixed charges and preferred dividend requirements by $235 million and $289 million, respectively. |