EX-12.1 9 a68991ex12-1.txt EXHIBIT 12.1 1 EXHIBIT 12.1 CKE RESTAURANTS, INC. AND SUBSIDIARIES COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Fiscal year ended January 31, ---------------------- ------------------------------------------------------------- (Dollars in thousands) 2001(2) 2000 1999 1998 1997 ---------------------- --------- -------- -------- -------- ------- Earnings before fixed charges: Income (loss) before income taxes and extraordinary item $(205,264) $(47,460) $124,097 $ 76,640 $36,710 Fixed charges $ 102,940 92,389 68,843 35,325 19,840 --------- -------- -------- -------- ------- $(102,324) $ 44,929 $192,940 $111,965 $56,550 ========= ======== ======== ======== ======= Fixed charges: Interest expense $ 69,762 $ 63,283 $ 43,453 $ 16,914 $ 9,877 Interest component of rent expense(1) $ 33,178 29,106 25,390 18,411 9,963 --------- -------- -------- -------- ------- $ 102,940 $ 92,389 $ 68,843 $ 35,325 $19,840 ========= ======== ======== ======== ======= Ratio of earnings to fixed charges (1.0)x 0.5x 2.8x 3.2x 2.9x ========= ======== ======== ======== =======
-------------- (1) Calculated as one-third of total rent expense. (2) Earnings are insufficient to cover fixed charges for the year ended January 31, 2001 by $205.3 million.