EX-12.1 3 dex121.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Computation of Ratio of Earnings to Fixed Charges

EXHIBIT 12.1

 

Landry's Restaurants, Inc.

 

Ratio of Earnings to Fixed Charges

 

     2004

    2003

    2002

    2001

    2000

 

Income before taxes

   70,066,506     55,802,370     58,515,552     37,450,544     21,212,003  

Fixed Charges, as adjusted

   35,574,796     28,840,614     21,152,013     23,753,449     15,137,352  
    

 

 

 

 

     105,641,302     84,642,984     79,667,565     61,203,993     36,349,355  
    

 

 

 

 

Fixed Charges

                              

Interest Expense, including amortization of debt costs

   15,890,664     9,634,872     5,133,234     9,685,201     7,180,598  

Capitalized Interest

   1,242,314     2,050,883     1,958,817     2,437,576     1,651,975  

Interest Factor on Rent ( 1/3 rent expense)

   19,684,132     19,205,742     16,018,779     14,068,248     7,956,754  
    

 

 

 

 

Total Fixed Charges

   36,817,110     30,891,497     23,110,830     26,191,025     16,789,327  

Less Capitalized interest

   (1,242,314 )   (2,050,883 )   (1,958,817 )   (2,437,576 )   (1,651,975 )
    

 

 

 

 

Fixed Charges, as adjusted

   35,574,796     28,840,614     21,152,013     23,753,449     15,137,352  
    

 

 

 

 

Ratio of Earnings to Fixed Charges

   2.9     2.7     3.4     2.3     2.2