SEC Info - Dole Food Co Inc - ‘S-4’ on 5/23/02

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Dole Food Co Inc – ‘S-4’ on 5/23/02 – EX-12

On: Thursday, 5/23/02, at 8:52pm ET · As of: 5/24/02 · Accession #: 898430-2-2174 · File #: 333-88984

  As Of                Filer                Filing    For·On·As Docs:Size              Issuer               Agent

 5/24/02  Dole Food Co Inc                  S-4         5/23/02    9:703K                                   Donnelley R R & S… 05/FA

Registration of Securities Issued in a Business-Combination Transaction — Form S-4
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: S-4         Registration of Securities Issued in a              HTML    402K 
                          Business-Combination Transaction                       
 2: EX-5        Opinion of Gibson, Dunn & Crutcher LLP              HTML     19K 
 3: EX-12       Computation of Ratio of Earnings to Fixed Charges   HTML     28K 
 4: EX-23.1     Consent of Arthur Andersen LLP                      HTML      7K 
 5: EX-25       Form T-1, Statement of Eligibilty of Trustee        HTML     66K 
 6: EX-99.1     Form of Letter of Transmittal                       HTML     93K 
 7: EX-99.2     Guidlines on Form W-9                               HTML     34K 
 8: EX-99.3     Form of Notice of Guaranteed Delivery               HTML     22K 
 9: EX-99.4     Form of Letter to Beneficial Holders                HTML     34K

EX-12 — Computation of Ratio of Earnings to Fixed Charges

This exhibit is an HTML Document rendered as filed. [ Alternative Formats ]

Prepared by R.R. Donnelley Financial -- Computation of Ratio of Earnings to Fixed Charges

EXHIBIT 12

DOLE FOOD COMPANY, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(in thousands, except for ratio data)

	Quarters ended		Fiscal Years Ended
	March 23, 2002	March 24, 2001	December 29, 2001		December 30, 2000	January 1, 2000	January 2, 1999	January 3, 1998
Income/(loss) from continuing operations before income taxes(a)	82,764	44,457	(7,730	)	55,637	19,789	3,075	168,126

Add Fixed Charges:
Interest expense	14,303	18,245	69,722		89,242	84,508	63,599	59,707
Capitalized interest	—	—	—		—	—	—	—
Amortization of debt expense and discounts	228	228	986		1,203	1,357	1,038	938
Interest factor of rental expense(b)	8,918	10,578	42,042		49,187	55,253	50,135	60,563

Total fixed charges	23,449	29,051	112,750		139,632	141,118	114,772	121,208
Total adjusted earnings	106,213	73,508	105,020		195,269	160,907	117,847	289,334
Ratio of earnings to fixed charges(c)	4.53	2.53	0.93		1.40	1.14	1.03	2.39

(a)

Included in earnings for 2001, 2000, 1999 and 1998 were pretax special charges of $133 million, $46 million, $48 million and $98 million, respectively. Included in earnings for 2001, 2000 and 1999 were pretax special gains of $8 million, $52 million and $20 million, respectively. Excluding these special items, the ratios would have been 2.04, 1.36, 1.34 and 1.88 in 2001, 2000, 1999 and 1998, respectively.

(b)

The interest factor of rental expense is determined by dividing total rental expense for the period by three.

(c)

Due to the company’s loss from continuing operations in 2001, the ratio coverage was less than 1:1. The company must generate additional earnings of $7,730 to achieve a coverage ratio of 1:1.

(d)

The company is guarantor of indebtedness of certain suppliers integral to its operations. These guarantees totaled approximately $69 million at March 23, 2002. If the company were required to fulfill these contingent obligations, the interest that would be incurred would be immaterial to the ratio of earnings to fixed charges.

Dates Referenced Herein and Documents Incorporated by Reference

This ‘S-4’ Filing	Date	Other Filings

Filed as of:	5/24/02
Filed on:	5/23/02
	3/23/02	10-Q
	12/29/01	10-K/A, 10-K405
	3/24/01	10-Q
	12/30/00	10-K
	1/1/00	10-K405
	1/2/99	10-K
	1/3/98	10-K405
		List all Filings

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Filing Submission 0000898430-02-002174 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)