Registration Statement for Securities Offered Pursuant to a Transaction — Form S-3
Filing Table of Contents
Document/Exhibit Description Pages Size
1: S-3 Form S-3 Ibp, Inc. 22 136K
2: EX-4 Form of Indenture Between Ibp and Bank of New York 133 427K
3: EX-12 Computation of Ratio of Earnings to Fixed Charges 1 7K
4: EX-23.A Consent of Price Waterhouse LLP 1 6K
5: EX-25 Form T-1 Statement of Eligility 6 21K
EX-12 — Computation of Ratio of Earnings to Fixed Charges
EXHIBIT 12
IBP, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(IN THOUSANDS, EXCEPT RATIO DATA)
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THIRTY-NINE WEEKS ENDED FISCAL YEARS ENDED
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SEPTEMBER 30, SEPTEMBER 24, DECEMBER 31, DECEMBER 25, DECEMBER 26, DECEMBER 28, DECEMBER 29,
1995 1994 1994(2) 1993(3) 1992 1991 1990(4)
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Earnings before income
taxes.................. $ 365,671 $ 173,071 $308,889 $131,257 $108,616 $ 2,253 $ 75,727
Fixed charges
Interest expense..... 31,218 33,154 45,124 45,838 54,683 61,344 59,110
Interest portion of
operating lease/
rent expense(1).... 3,018 2,536 3,440 3,360 3,328 3,893 2,495
Total fixed
charges............ 34,236 35,690 48,564 49,198 58,011 65,237 61,605
Earnings before fixed
charges................ $ 399,907 $ 208,761 $357,453 $180,455 $166,627 $ 67,490 $137,332
Ratio of earnings to
fixed charges.......... 11.68x 5.85x 7.36x 3.67x 2.87x 1.03x 2.23x
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(1) Represents one-third of operating lease/rent expense, which the Company's
management believes to be representative of the interest portion of
operating lease/rent expense.
(2) Fiscal year consisted of 53 weeks.
(3) The earnings set forth for 1993 do not reflect the effect of the Company's
change in its method of accounting for income taxes in such year.
(4) The earnings set forth for 1990 do not reflect the effect of the Company's
extraordinary item relating to the premium paid by the Company in such year
in connection with its prepayment of certain indebtedness.
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