OfficeMax 2006 Annual Report Download - page 118

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Exhibit 12.2
OFFICEMAX INCORPORATED AND SUBSIDIARIES
Ratio of Earnings to Combined Fixed Charges
and Preferred Dividend Requirements
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
Interest capitalized during the period.... ——28 3913,937
Interest factor related to noncapitalized
leases(a). ........................ 113,257 120,989 130,229 15,974 11,128
Total fixed charges. .................. 236,339 262,444 285,946 151,295 148,827
Preferred stock dividend requirements—
pre-tax .......................... 4,037 4,378 12,21113,864 14,548
Combinedfixed charges and preferred
dividend requirements .............. $ 240,376 $ 266,822 $ 298,157 $ 165,159 $163,375
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
Total fixed charges. .................. 236,339 262,444 285,946 151,295 148,827
Less interest capitalized............... — — (28) (391 ) (3,937)
Total earnings before fixed charges..... $ 402,344 $ 219,724 $ 659,149 $ 191,449 $148,677
Ratio of earnings to combined fixed
charges and preferred dividend
requirements ..................... 1.67 — 2.21 1.16 —
Excess of combined fixed charges and
preferred dividend requirements over
total earnings before fixed charges.... $— $47,098$—$—$
14,698
(a) Interest expense for operating leases with terms of one year or longer is based on an imputed interest rate for each lease.