EX-12 6 ex12-1.txt EXHIBIT 12.1 EXHIBIT 12.1 TRIARC COMPANIES, INC. AND SUBSIDIARIES UNAUDITED COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
HISTORICAL PRO FORMA ---------------------------------------------------------------- --------- YEAR ENDED ---------------------------------------------------------------------------- DECEMBER 29, JANUARY 3, JANUARY 2, DECEMBER 31, DECEMBER 30, -------------------- 1999 2000 2000 2001 2002 2002 ---- ---- ---- ---- ---- ---- (IN THOUSANDS EXCEPT RATIOS) Income (loss) from continuing operations before income taxes and minority interests....... $ 8,019 $22,503 $ 2,211 $17,410 $(16,634) $(35,764) Add equity in losses (deduct equity in earnings) of equity investees................ (176) (2,236) 2,423 137 (306) (306) Distribution of earnings from equity investees.... -- 725 125 17 -- -- ------- ------- ------- ------- -------- -------- 7,843 20,992 4,759 17,564 (16,940) (36,070) ------- ------- ------- ------- -------- -------- Fixed charges: Interest expense....... 13,031 1,260 4,804 30,447 26,210 46,036 Interest portion of rent expense (b)..... 2,337 2,189 1,294 1,385 1,380 6,569 ------- ------- ------- ------- -------- -------- 15,368 3,449 6,098 31,832 27,590 52,605 ------- ------- ------- ------- -------- -------- Adjusted earnings from continuing operations before income taxes and minority interests....... $23,211 $24,441 $10,857 $49,396 $ 10,650 $ 16,535 ------- ------- ------- ------- -------- -------- ------- ------- ------- ------- -------- -------- Ratio of earnings to fixed charges.................. 1.51 7.09 1.78 1.55 ------- ------- ------- ------- ------- ------- ------- ------- Amount by which earnings were insufficient to cover fixed charges(c)... $ 16,940 $ 36,070 -------- -------- -------- --------
HISTORICAL PRO FORMA(a) ------------------- ------------ THREE MONTHS ENDED ---------------------------------- MARCH 30, MARCH 31, ---------------------- 2002 2003 2003 ---- ---- ---- (IN THOUSANDS) Loss from continuing operations before income $ (749) $(2,236) $(4,663) taxes.............................................. Add equity in losses (deduct equity in earnings) of equity investees................................... 590 (577) (577) ------ ------- ------- (159) (2,813) (5,240) ------ ------- ------- Fixed charges: Interest expense................................. 6,360 8,458 10,885 Interest portion of rent expense (b)............. 356 1,524 1,524 ------ ------- ------- 6,716 9,982 12,409 ------ ------- ------- Adjusted earnings from continuing operations before income taxes....................................... $6,557 $ 7,169 $ 7,169 ------ ------- ------- ------ ------- ------- Amount by which earnings were insufficient to cover fixed charges (c).................................. $ 159 $ 2,813 $ 5,240 ------ ------- ------- ------ ------- -------
(footnotes on next page) i (footnotes from previous page) (a) The pro forma information has been determined by adjusting the consolidated results of operations of Triarc Companies, Inc. and subsidiaries for the year ended December 29, 2002 to give effect to the acquisition of Sybra, Inc. and the offering (the 'Offering') of $175,000,000 of 5% convertible notes due 2023 and, for the three months ended March 30, 2003, to give effect to the Offering. Such pro forma information is derived from the pro forma condensed consolidated statements of operations contained elsewhere in this registration statement and should be read in conjunction with those statements and accompanying notes. (b) Represents approximately one-third of rent expense deemed for this purpose to represent the interest component of rental payments. (c) Earnings were insufficient to cover fixed charges for these periods. ii