Exhibit 12.1
Brinker International, Inc.
Computation of Ratio of Earnings to Fixed Charges
(in thousands, except ratios)
Thirty-nine Week Period Ended | Fiscal Years | |||||||||||||||||||||||
March 27, 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | |||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Pre-tax income from continuing operations | $ | 168,492 | $ | 208,809 | $ | 183,329 | $ | 131,986 | $ | 78,855 | $ | 48,241 | ||||||||||||
+ Equity investee losses | 752 | 1,350 | (1,802 | ) | (114 | ) | 201 | 324 | ||||||||||||||||
+ Fixed charges | 46,362 | 61,037 | 62,197 | 62,765 | 73,192 | 93,288 | ||||||||||||||||||
+ Amortization of capitalized interest | 2,226 | 3,033 | 3,087 | 3,137 | 3,125 | 2,957 | ||||||||||||||||||
- Capitalized interest | (43 | ) | (474 | ) | (230 | ) | (95 | ) | (707 | ) | (3,701 | ) | ||||||||||||
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Total earnings | $ | 217,789 | $ | 273,755 | $ | 246,581 | $ | 197,679 | $ | 154,666 | $ | 141,109 | ||||||||||||
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Fixed charges: | ||||||||||||||||||||||||
Interest expense | $ | 21,040 | $ | 26,800 | $ | 28,311 | $ | 28,515 | $ | 33,330 | $ | 45,862 | ||||||||||||
Capitalized interest | 43 | 474 | 230 | 95 | 707 | 3,701 | ||||||||||||||||||
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Gross interest | 21,083 | 27,274 | 28,541 | 28,610 | 34,037 | 49,563 | ||||||||||||||||||
Estimate of interest in rent | 25,279 | 33,763 | 33,656 | 34,155 | 39,155 | 43,725 | ||||||||||||||||||
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Total fixed charges | $ | 46,362 | $ | 61,037 | $ | 62,197 | $ | 62,765 | $ | 73,192 | $ | 93,288 | ||||||||||||
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Ratio of earnings to fixed charges: | 4.70 | 4.49 | 3.96 | 3.15 | 2.11 | 1.51 | ||||||||||||||||||
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