EX-12 111 l02286aexv12.txt EXHIBIT 12 EXHIBIT 12 STATEMENT OF COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES BALLY TOTAL FITNESS HOLDING CORP RATIO OF EARNINGS TO FIXED CHARGES (IN MILLIONS)
Six months 1998 1999 2000 2001 2002 6/30/02 6/30/03 ------- ------- ------- ------- ------- ------- ------- EARNINGS Add: Pretax income from continuing operations $ 13.8 $ 43.3 $ 59.6 $ 69.2 $ 0.8 $ 41.9 $ 26.0 Fixed charges 73.2 86.6 102.4 101.0 101.9 51.4 51.0 Amort of capitalized interest 0.2 0.4 0.6 0.8 1.0 0.4 0.6 Less: Interest capitalized 0.5 1.4 3.9 4.0 2.9 1.8 0.5 ------- ------- ------- ------- ------- ------- ------- Earnings $ 86.7 $ 128.9 $ 158.7 $ 167.0 $ 100.8 $ 91.9 $ 77.1 ======= ======= ======= ======= ======= ======= ======= FIXED CHARGES Interest expense $ 41.5 $ 52.4 $ 62.1 $ 58.8 $ 55.5 $ 28.2 $ 27.9 Interest capitalized 0.5 1.4 3.9 4.0 2.9 1.8 0.5 Interest in rent expense (a) 31.2 32.8 36.4 38.2 43.5 21.4 22.6 ------- ------- ------- ------- ------- ------- ------- Total fixed charges $ 73.2 $ 86.6 $ 102.4 $ 101.0 $ 101.9 $ 51.4 $ 51.0 ======= ======= ======= ======= ======= ======= ======= Earnings to fixed charge ratio 1.2 1.5 1.5 1.7 1.0 1.8 1.5
(a) estimated at one-third of rent expense