EX-12 3 v325642_ex12.htm EXHIBIT 12

 

The Marcus Corporation

Ratio of Earnings to Fixed Charges

(dollars in thousands)

 

   13 Weeks Ended   Fiscal Year Ended 
   8/30/2012   8/25/2011   5/31/2012   5/26/2011   5/27/2010   5/28/2009   5/29/2008 
Earnings:                                   
Earnings from continuing operations before income taxes  $18,387   $20,889   $37,439   $21,813   $25,213   $27,366   $33,699 
                                    
Add (Less): Equity losses (earnings)  from unconsolidated joint ventures, net   40    71    200    (545)   337    476    411 
Add: Fixed charges (below)   3,156    3,440    13,753    14,736    15,900    18,235    17,945 
Add: Amortization of capitalized interest   8    8    32    31    23    19    18 
Add: Distributions from unconsolidated joint ventures   94    11    254    -    -    -    11 
Less:  Capitalized interest   (21)   (5)   (75)   (90)   (278)   (127)   (62)
Total Earnings  $21,664   $24,414   $51,603   $35,945   $41,195   $45,969   $52,022 
                                    
Fixed Charges:                                   
Interest expensed  $2,074   $2,351   $9,272   $10,362   $11,235   $13,963   $15,157 
Interest capitalized   21    5    75    90    278    127    62 
Amortized debt issuance costs   59    63    245    231    231    263    249 
Estimate of interest within rental expense   1,002    1,021    4,161    4,053    4,156    3,882    2,477 
Total Fixed Charges  $3,156   $3,440   $13,753   $14,736   $15,900   $18,235   $17,945 
                                    
Ratio of Earnings to Fixed Charges (unaudited)   6.86x   7.10x   3.75x   2.44x   2.59x   2.52x   2.90x