Computation of Ratio of Earnings to Fixed Charges
(in thousands, except ratios)
| |
Thirty-Nine Week Period Ended |
Fiscal Years |
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March 24, 2004 |
2003 |
2002 |
2001 |
2000 |
1999 |
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| Earnings: | ||||||||||||||||||||
| Pre-tax income | $ | 143,883 | $ | 253,587 | $ | 231,849 | $ | 221,927 | $ | 181,542 | $ | 130,539 | ||||||||
| Equity investee losses | 1,051 | 2,771 | 1,661 | 838 | 2,519 | 11,341 | ||||||||||||||
| Fixed charges | 39,658 | 52,662 | 51,690 | 41,739 | 41,787 | 37,501 | ||||||||||||||
| Amortization of capitalized interest | 1,560 | 1,804 | 1,580 | 1,442 | 1,280 | 1,081 | ||||||||||||||
| Capitalized interest | (2,566 | ) | (5,566 | ) | (4,508 | ) | (2,770 | ) | (3,234 | ) | (3,969 | ) | ||||||||
| Total earnings | $ | 183,586 | $ | 305,258 | $ | 282,272 | $ | 263,175 | $ | 223,894 | $ | 176,493 | ||||||||
| Fixed Charges: | ||||||||||||||||||||
| Interest expense | $ | 8,973 | $ | 12,449 | $ | 13,327 | $ | 8,608 | $ | 10,746 | $ | 9,241 | ||||||||
| Capitalized interest | 2,566 | 5,566 | 4,508 | 2,770 | 3,234 | 3,969 | ||||||||||||||
| Gross interest | 11,539 | 18,015 | 17,835 | 11,378 | 13,980 | 13,210 | ||||||||||||||
| Estimate of interest in rent | 28,119 | 34,647 | 33,855 | 30,361 | 27,807 | 24,291 | ||||||||||||||
| Total fixed charges | $ | 39,658 | $ | 52,662 | $ | 51,690 | $ | 41,739 | $ | 41,787 | $ | 37,501 | ||||||||
| Ratio of Earnings to Fixed Charges: | 4.63 | 5.80 | 5.46 | 6.31 | 5.36 | 4.71 | ||||||||||||||