EX-12 3 ex12-1forms3_1203.txt EXHIBIT 12.1 EXHIBIT 12.1 ------------
TRIARC COMPANIES, INC. AND SUBSIDIARIES UNAUDITED COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES YEAR ENDED NINE MONTHS ENDED -------------------------------------------------------------------- ----------------------------- JANUARY 3, JANUARY 2, DECEMBER 31, DECEMBER 30, DECEMBER 29, SEPTEMBER 29, SEPTEMBER 28, 1999 2000 2000 2001 2002 2002 2003 ---- ---- ---- ---- ---- ---- ---- (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) $(16,919) $ (2,030) Add equity in losses (deduct equity in earnings) of equity investees.................. (176) (2,236) 2,423 137 (306) 625 (1,025) Distribution of earnings from equity investees...... -- 725 125 17 -- -- -- ------- ------- ------- ------- -------- --------- -------- 7,843 20,992 4,759 17,564 (16,940) (16,294) (3,055) ------- ------- ------- ------- -------- --------- -------- Fixed charges: Interest expense........... 13,031 1,260 4,804 30,447 26,210 20,002 27,857 Interest portion of rent expense (a)......... 2,337 2,189 1,294 1,385 1,380 1,026 4,633 ------- ------- ------- ------- -------- --------- -------- 15,368 3,449 6,098 31,832 27,590 21,028 32,490 ------- ------- ------- ------- -------- --------- -------- Adjusted earnings from continuing operations before income taxes and minority interests..... $23,211 $24,441 $10,857 $49,396 $ 10,650 $ 4,734 $29,435 ======= ======= ======= ======= ======== ========= ======= Ratio of earnings to fixed charges.............. 1.51 7.09 1.78 1.55 ======= ======= ======= ======= Amount by which earnings were insufficient to cover fixed charges (b).... $ 16,940 $ 16,294 $ 3,055 ======== ========= =======
(a) Represents approximately one-third of rent expense deemed for this purpose to represent the interest component of rental payments. (b) Earnings were insufficient to cover fixed charges for these periods.