DARDEN RESTAURANTS INC - FORM 10-Q - EX-12 - COMPUTATION OF RATIO OF CONSOLIDATED EARNINGS TO FIXED CHARGES - December 31, 2014

Attached files

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EX-31.A - SECTION 302 CERTIFICATION OF CEO - DARDEN RESTAURANTS INCex31aq2fy15.htm
EX-32.A - SECTION 906 CERTIFICATION OF CEO - DARDEN RESTAURANTS INCex32aq2fy15.htm
EX-32.B - SECTION 906 CERTIFICATION OF CFO - DARDEN RESTAURANTS INCex32bq2fy15.htm
EX-31.B - SECTION 302 CERTIFICATION OF CFO - DARDEN RESTAURANTS INCex31bq2fy15.htm
EX-10.4 - RSU AWARD AGREEMENT E.LEE - DARDEN RESTAURANTS INCex10_4xeleexrsuagreement.htm
EX-10.5 - RSU AWARD AGREEMENT E.LEE - DARDEN RESTAURANTS INCex10_5xeleexrsuagreement.htm
EXCEL - IDEA: XBRL DOCUMENT - DARDEN RESTAURANTS INCFinancial_Report.xls
10-Q - 10-Q - DARDEN RESTAURANTS INCq2fy1510-q.htm


EXHIBIT 12


DARDEN RESTAURANTS, INC.
COMPUTATION OF RATIO OF CONSOLIDATED EARNINGS TO FIXED CHARGES
(Dollar amounts in millions)
(Unaudited)

 
Three Months Ended
 
Six Months Ended
 
November 23,
2014
 
November 24,
2013
 
November 23,
2014
 
November 24,
2013
Consolidated earnings from continuing operations before income taxes
$
(54.6
)
 
$
1.8

 
$
(98.3
)
 
$
51.7

Plus fixed charges:
 
 
 
 
 
 
 
   Gross interest expense(1)
34.7

 
33.8

 
146.2

 
67.6

   40% of restaurant and equipment minimum rent expense
16.2

 
14.5

 
31.9

 
28.2

       Total fixed charges
50.9

 
48.3

 
178.1

 
95.8

Less capitalized interest
(0.8
)
 
(0.7
)
 
(0.9
)
 
(1.7
)
Consolidated earnings from continuing operations before income taxes available to cover fixed charges
$
(4.5
)
 
$
49.4

 
$
78.9

 
$
145.8

Ratio of consolidated earnings from continuing operations to fixed charges
(0.1
)
 
1.0

 
0.4

 
1.5

                                                                              
(1) Gross interest expense includes interest recognized in connection with our unrecognized income tax benefits



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