DARDEN RESTAURANTS INC - FORM 10-K - EX-12 - COMPUTATION OF RATIO OF CONSOLIDATED EARNINGS TO FIXED CHARGES - July 21, 2017

Attached files

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10-K - FORM 10-K - DARDEN RESTAURANTS INCdri-201710xk.htm
EX-32.B - SECTION 906 CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER - DARDEN RESTAURANTS INCdri-201710xkex32b.htm
EX-32.A - SECTION 906 CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER - DARDEN RESTAURANTS INCdri-201710xkex32a.htm
EX-31.B - SECTION 302 CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER - DARDEN RESTAURANTS INCdri-201710xkex31b.htm
EX-31.A - SECTION 302 CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER - DARDEN RESTAURANTS INCdri-201710xkex31a.htm
EX-24 - POWERS OF ATTORNEY - DARDEN RESTAURANTS INCdri201710-kex24.htm
EX-23 - CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - DARDEN RESTAURANTS INCdrify1710-kex23.htm
EX-21 - SUBSIDIARIES OF DARDEN RESTAURANTS, INC - DARDEN RESTAURANTS INCdri-201710xkex21.htm
EX-10.46 - EXHIBIT 10.46 - DARDEN RESTAURANTS INCdri-201710xkex1046.htm
EX-10.45 - EXHIBIT 10.45 - DARDEN RESTAURANTS INCdri-201710xkex1045.htm
EX-10.44 - EXHIBIT 10.44 - DARDEN RESTAURANTS INCdri-201710xkex1044.htm
EX-10.43 - EXHIBIT 10.43 - DARDEN RESTAURANTS INCdri-201710xkex1043.htm
EX-10.42 - EXHIBIT 10.42 - DARDEN RESTAURANTS INCdri-201710xkex1042.htm
EX-10.41 - EXHIBIT 10.41 - DARDEN RESTAURANTS INCdri-201710xkex1041.htm
EX-10.40 - EXHIBIT 10.40 - DARDEN RESTAURANTS INCdri-201710xkex1040.htm


EXHIBIT 12


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


 
Fiscal Year Ended
 
May 28, 2017
 
May 29, 2016
 
May 31, 2015
 
May 25, 2014
 
May 26, 2013
Consolidated earnings from continuing operations before income taxes
$
637.3

 
$
449.7

 
$
175.3

 
$
174.6

 
$
274.0

Plus fixed charges:
 
 
 
 
 
 
 
 
 
   Gross interest expense(1)
43.2

 
174.3

 
194.2

 
137.5

 
129.8

   40% of restaurant and equipment minimum rent expense
114.7

 
93.4

 
66.8

 
58.6

 
50.3

       Total fixed charges
157.9

 
267.7

 
261.0

 
196.1

 
180.1

Less capitalized interest
(1.7
)
 
(0.7
)
 
(1.3
)
 
(2.6
)
 
(2.9
)
Consolidated earnings from continuing operations before income taxes available to cover fixed charges
$
793.5

 
$
716.7

 
$
435.0

 
$
368.1

 
$
451.2

Ratio of consolidated earnings from continuing operations to fixed charges
5.0

 
2.7

 
1.7

 
1.9

 
2.5


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



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