EX-12.1 2 a04083a1exv12w1.txt EXHIBIT 12.1 . . . EXHIBIT 12-1 CKE RESTAURANTS, INC. AND SUBSIDIARIES COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Fiscal Year Ended January 31, --------------------------------------------------------------------- (Dollars in thousands) 2004 2003 2002 2001 2000 ------------- ------------- ------------- ------------- ------------- (as restated) (as restated) (as restated) (as restated) (as restated) EARNINGS BEFORE FIXED CHARGE: Income (loss) before income taxes, discontinued operations and cumulative effect of accounting change for goodwill $ (48,013) $ 12,121 $ (85,308) $(214,938) $ (57,114) Fixed Charges 70,519 69,630 81,676 104,000 92,540 --------- --------- --------- --------- --------- $ 22,506 $ 81,751 $ (3,632) $(110,938) $ 35,426 ========= ========= ========= ========= ========= FIXED CHARGES: Interest expense $ 39,962 $ 39,924 $ 53,906 $ 70,509 $ 63,253 Interest component of rent expensed (1) 30,557 29,706 27,770 33,491 29,287 --------- --------- --------- --------- --------- $ 70,519 $ 69,639 $ 81,676 $ 104,000 $ 92,540 ========= ========= ========= ========= ========= Ratio of earnings to fixed charges (2) -- 1.2 -- -- -- ========= ========= ========= ========= =========
(1) Calculated as one-third of total rent expense. (2) Earnings were insufficient to cover fixed charges for the years ended January 31, 2004, 2002, 2001 and 2000 by $48,013, $85,308, $214,938 and $57,114, respectively.