EX-12.1 2 a98047p2exv12w1.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 -------- -------- -------- --------- -------- EARNINGS BEFORE FIXED CHARGES Income (loss) before income taxes, discontinued operations and cumulative effect of accounting change for goodwill $(43,927) $ 17,878 $(84,540) $(205,264) $(47,460) Fixed charges 70,318 69,363 82,375 103,719 92,389 -------- -------- -------- --------- -------- $ 26,391 $ 87,241 $ (3,165) $ 101,545 $ 44,929 ======== ======== ======== ========= ======== FIXED CHARGES: Interest expense $ 39,991 $ 39,954 $ 53,937 $ 70,541 $ 63,283 Interest component of rent expensed (1) 30,327 29,400 27,438 33,178 29,106 -------- -------- -------- --------- -------- $ 70,318 $ 69,363 $ 81,375 $ 103,719 $ 92,389 ======== ======== ======== ========= ======== Ratio of earnings to fixed charges (2) -- 1.3 -- -- -- ======== ======== ======== ========= ========
(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 $43,927, $84,540, $205,264 and $47,460, respectively.