Attached files
| file | filename |
|---|---|
| EX-99.1 - EXHIBIT 99.1 - DARDEN RESTAURANTS INC | ex991pressreleasefeb72018.htm |
| 8-K - 8-K - DARDEN RESTAURANTS INC | a8-kfeb72018amearlyresults.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 26, 2017 | November 26, 2017 | ||||||
Consolidated earnings from continuing operations before income taxes | $ | 113.4 | $ | 272.9 | |||
Plus fixed charges: | |||||||
Gross interest expense (1) | 16.1 | 31.8 | |||||
40% of restaurant and equipment minimum rent expense | 32.0 | 63.2 | |||||
Total fixed charges | 48.1 | 95.0 | |||||
Less capitalized interest | (0.5 | ) | (0.9 | ) | |||
Consolidated earnings from continuing operations before income taxes available to cover fixed charges | $ | 161.0 | $ | 367.0 | |||
Ratio of consolidated earnings from continuing operations to fixed charges | 3.3 | 3.9 | |||||
(1) Gross interest expense includes interest recognized in connection with our unrecognized income tax benefits