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 | ||||||||||