OfficeMax 2007 Annual Report Download - page 115

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Exhibit 12.1
OFFICEMAX INCORPORATED AND SUBSIDIARIES
Ratio of Earnings to Fixed Charges
Fiscal Year Ended
December 29, December 30, December 31, December 31, December 31,
2007 2006 2005 2004 2003
(thousands, except ratios)
Interest costs ................ $121,271 $ 123,082 $ 141,455 $ 155,689 $ 134,930
Guarantee of interest on ESOP
debt ..................... — — — 905 3,976
Interest capitalized during the
period ................... — — — 28 391
Interest factor related to
noncapitalized leases(a) ...... 112,552 113,257 120,989 130,229 15,974
Total fixed charges ............ $233,823 $236,339 $262,444 $286,851 $155,271
Income (loss) from continuing
operations before income taxes,
minority interest, and cumulative
effect of accounting changes . . . $ 337,527 $ 171,878 $ (37,616) $ 379,442 $ 49,240
Undistributed (earnings) losses of
less than 50% owned entities,
net of distributions received .... (6,065) (5,873) (5,104) (6,211) (8,695)
Total fixed charges ............ 233,823 236,339 262,444 286,851 155,271
Less: Interest capitalized ........ — — — (28) (391)
Guarantee of interest on
ESOP debt ............ — — — (905) (3,976)
Total earnings before fixed charges . $565,285 $402,344 $219,724 $659,149 $191,449
Ratio of earnings to fixed charges . 2.42 1.70 — 2.30 1.23
Excess of fixed charges over
earnings before fixed charges . . $ — $ — $ 42,720 $ — $ —
(a) Interest expense for operating leases with terms of one year or longer is based on an imputed
interest rate for each lease.