| Year Ended Last Friday in December | ||||||||||||||||||||
| 2007 | 2006 | 2005 | 2004 | 2003 | ||||||||||||||||
| (52 weeks) | (52 weeks) | (52 weeks) | (53 weeks) | (52 weeks) | ||||||||||||||||
Pre-tax earnings (loss)(a) |
$ | (13,723 | ) | $ | 9,313 | $ | 6,335 | $ | 5,106 | $ | 4,894 | |||||||||
Add: Fixed charges (excluding capitalized
interest and preferred security dividend
requirements of subsidiaries) |
51,683 | 35,719 | 21,764 | 10,591 | 8,016 | |||||||||||||||
Pre-tax earnings before fixed charges |
37,960 | 45,032 | 28,099 | 15,697 | 12,910 | |||||||||||||||
Fixed charges: |
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Interest |
51,425 | 35,499 | 21,549 | 10,387 | 7,823 | |||||||||||||||
Other(b) |
258 | 220 | 215 | 204 | 193 | |||||||||||||||
Total fixed charges |
51,683 | 35,719 | 21,764 | 10,591 | 8,016 | |||||||||||||||
Preferred stock dividend requirements |
401 | 259 | 99 | 54 | 52 | |||||||||||||||
Total combined fixed charges and
preferred stock dividends |
$ | 52,084 | $ | 35,978 | $ | 21,863 | $ | 10,645 | $ | 8,068 | ||||||||||
Ratio of earnings to fixed charges |
* | 1.26 | 1.29 | 1.48 | 1.61 | |||||||||||||||
Ratio of earnings to combined fixed
charges and preferred stock dividends |
* | 1.25 | 1.29 | 1.47 | 1.60 | |||||||||||||||
| (a) | Excludes undistributed earnings (loss) from equity investments. | |
| (b) | Other fixed charges consist of the interest factor in rentals, amortization of debt issuance costs, preferred security dividend requirements of subsidiaries, and capitalized interest. | |
| * | The earnings for 2007 were inadequate to cover total fixed charges and total fixed charges and preferred stock dividends. The coverage deficiencies were $13,723 for total fixed charges and $14,124 for total fixed charges and preferred stock dividends. |