EX-12.1 3 d75789dex121.htm EX-12.1

EX-12.1

Exhibit 12.1

Ratio of Earnings to Fixed Charges

		Six Months				Fiscal Year Ended
		October 30, 2015				April 24, 2015				April 25, 2014				April 26, 2013				April 27, 2012				April 29, 2011
Earnings before fixed charges:
Net Income		$	114			$	560			$	638			$	505			$	605			$	673
Income tax provision (benefit)		$	30			$	153			$	103			$	61			$	107			$	121
Income before Income taxes		$	144			$	713			$	741			$	566			$	712			$	794
Fixed Charges computed below		$	23			$	64			$	58			$	114			$	105			$	100
Earnings before fixed charges		$	167			$	777			$	799			$	680			$	817			$	894
Ratio of Earnings to Fixed Charges			7.3				12.1				13.8				6.0				7.8				9.0
Interest Expense		$	11			$	42			$	36			$	92			$	75			$	76
Interest portion of rent expense (a)		$	12			$	22			$	22			$	22			$	30			$	24
Total Fixed Charges		$	23			$	64			$	58			$	114			$	105			$	100

(a) represents the portion of expense estimated by management as implicit interest expense