OfficeMax 2006 Annual Report Download - page 117

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Exhibit 12.1
OFFICEMAX INCORPORATED AND SUBSIDIARIES
Ratio of Earnings to Fixed Charges
Fiscal Year Ended
December 30,
2006
December 31,
2005
December 31,
2004
December 31,
2003
December 31,
2002
(thousands, except ratios)
Interest costs................. $ 123,082 $ 141,455$ 155,689 $ 134,930 $133,762
Guarantee ofinterest onESOP
debt....................... ——905 3,976 6,405
Interest capitalized during the
period ..................... ——28 3913,937
Interest factorrelated to
noncapitalized leases(a) ..... 113,257 120,989130,229 15,974 11,128
Total fixedcharges ............ $ 236,339$ 2 62,444 $ 286,851$ 1 55,271 $ 155,232
Income (loss) from continuing
operations before income
taxes, minority interest, and
cumulative effect of accounting
changes................... $171,878 $(37,616) $379,442 $49,240 $ 1,352
Undistributed (earnings)losses
of less than 50% owned
entities, net of distributions
received ................... (5,873) (5,104) (6,211) (8,695) 2,435
Totalfixed charges............ 236,339 262,444 286,851 155,271 155,232
Less: Interest capitalized....... ——(28) (391) (3,937)
Guarantee of interest onESOP
debt..................... ——(905)(3,976) (6,405)
Total earnings beforefixed
charges. ................... $ 402,344$ 2 19,724 $ 659,149$ 1 91,449 $ 148,677
Ratio of earnings to fixed
charges. ................... 1.70 — 2.30 1.23—
Excess offixed charges over
earnings before fixed charges $ —$42,720 $ —$ — $ 6,555
(a) Interest expense for operating leaseswith terms of one year or longer is based on animputed
interest rate for each lease.