Attached files
| file | filename |
|---|---|
| 10-K - 10-K - RITE AID CORP | a2197990z10-k.htm |
| EX-32 - EX-32 - RITE AID CORP | a2197990zex-32.htm |
| EX-23 - EX-23 - RITE AID CORP | a2197990zex-23.htm |
| EX-21 - EX-21 - RITE AID CORP | a2197990zex-21.htm |
| EX-31.2 - EX-31.2 - RITE AID CORP | a2197990zex-31_2.htm |
| EX-31.1 - EX-31.1 - RITE AID CORP | a2197990zex-31_1.htm |
| EX-10.7 - EXHIBIT 10.7 - RITE AID CORP | a2197990zex-10_7.htm |
| EX-10.6 - EXHIBIT 10.6 - RITE AID CORP | a2197990zex-10_6.htm |
| EX-10.15 - EXHIBIT 10.15 - RITE AID CORP | a2197990zex-10_15.htm |
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RITE AID CORPORATION AND SUBSIDIARIES
STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
We have calculated the ratio of earnings to fixed charges in the following table by dividing earnings by fixed charges. For this purpose, earnings include pre-tax income from continuing operations plus fixed charges, before capitalized interest. Fixed charges include interest, whether expensed or capitalized, amortization of debt expense, preferred stock dividend requirement and that portion of rental expense which is representative of the interest factor in those rentals.
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Year Ended | ||||||||||||||||
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February 27, 2010 |
February 28, 2009 |
March 1, 2008 |
March 3, 2007 |
March 4, 2006 |
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(52 Weeks) |
(52 Weeks) |
(52 Weeks) |
(52 Weeks) |
(53 Weeks) |
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(dollars in thousands) |
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Fixed charges: |
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Interest expense |
515,763 | 477,627 | 449,596 | 275,219 | 277,017 | ||||||||||||
Interest portion of net rental expense(1) |
320,506 | 320,947 | 287,934 | 195,592 | 189,756 | ||||||||||||
Fixed charges before capitalized interest and preferred stock dividend requirements |
836,269 | 798,574 | 737,530 | 470,811 | 466,773 | ||||||||||||
Preferred stock dividend requirements(2) |
17,614 | 43,536 | 65,066 | 62,910 | 65,446 | ||||||||||||
Capitalized interest |
859 | 1,434 | 2,069 | 1,474 | 934 | ||||||||||||
Total fixed charges |
854,742 | 843,544 | 804,665 | 535,195 | 533,153 | ||||||||||||
Earnings: |
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(Loss) income before income taxes |
(479,918 | ) | (2,582,794 | ) | (273,499 | ) | 13,582 | 43,254 | |||||||||
Preferred stock dividend requirements(2) |
(17,614 | ) | (43,536 | ) | (65,066 | ) | (62,910 | ) | (65,446 | ) | |||||||
Fixed charges before capitalized interest |
853,883 | 842,110 | 802,596 | 533,721 | 532,219 | ||||||||||||
Total adjusted (loss) earnings |
356,351 | (1,784,220 | ) | 464,031 | 484,393 | 510,027 | |||||||||||
Earnings to fixed charges (deficiency) excess |
(498,391 | ) | (2,627,764 | ) | (340,634 | ) | (50,802 | ) | (23,126 | ) | |||||||
Ratio of earnings to fixed charges(3) |
— | — | — | — | — | ||||||||||||
- (1)
- The
interest portion of net rental expense is estimated to be equal to one-third of the minimum rental expense for the period
- (2)
- The
preferred stock dividend requirement is computed as the pre-tax earnings that would be required to cover preferred stock dividends.
- (3)
- For the years ended March 4, 2006, March 3, 2007, March 1, 2008, February 28, 2009 and February 27, 2010 earnings were insufficient to cover fixed charges by approximately $23.1 million, $50.8 million, $340.6 million, $2.6 billion and $498.4 million, respectively.
RITE AID CORPORATION AND SUBSIDIARIES STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES