EX-12 5 v417230_ex12.htm EXHIBIT 12

 

Exhibit 12

 

The Marcus Corporation

Ratio of Earnings to Fixed Charges

(dollars in thousands)

 

   Fiscal Year Ended 
   5/28/2015   5/29/2014   5/30/2013   5/31/2012   5/26/2011 
Earnings:                         
Earnings before income taxes  $39,320   $37,709   $34,681   $37,439   $21,813 
                          
Add (Less): loss (earnings) attributable to noncontrolling interests   353    4,102    (5,825)   -    - 
Add (Less): Equity losses (earnings)  from unconsolidated joint ventures, net   186    250    450    200    (545)
Add: Fixed charges (below)   13,676    14,378    13,864    13,753    14,736 
Add: Amortization of capitalized interest   42    36    34    32    31 
Add: Distributions from unconsolidated joint ventures   166    120    120    254    - 
Less:  Capitalized interest   (194)   (256)   (75)   (75)   (90)
Total Earnings  $53,549   $56,339   $43,249   $51,603   $35,945 
                          
Fixed Charges:                         
Interest expensed  $9,477   $10,060   $9,309   $9,272   $10,362 
Interest capitalized   194    256    75    75    90 
Amortized debt issuance costs   449    491    348    245    231 
Estimate of interest within rental expense   3,556    3,571    4,132    4,161    4,053 
Total Fixed Charges  $13,676   $14,378   $13,864   $13,753   $14,736 
                          
Ratio of Earnings to Fixed Charges (unaudited)   3.92    3.92    3.12    3.75    2.44