Exhibit 12.1
DAVE & BUSTER’S, INC.
COMPUTATION OF RATIO OF EARNINGS
TO FIXED CHARGES
(dollars in thousands, except ratios)
Fiscal Year Ended | Fiscal Year Ended | Fiscal Year Ended | 244 Days Ended | 120 Days Ended | ||||||||||||||||
February 2, 2014 | February 3, 2013 | January 29, 2012 | January 30, 2011 | May 31, 2010 | ||||||||||||||||
(Successor) | (Successor) | (Successor) | (Successor) | (Predecessor) | ||||||||||||||||
Income (loss) before provision (benefit) for income taxes | $ | 19,728 | $ | 10,639 | $ | 1,634 | $ | (7,708 | ) | $ | (2,735 | ) | ||||||||
Add: Total fixed charges (per below) | 50,215 | 50,605 | 49,264 | 35,803 | 12,176 | |||||||||||||||
Less : Capitalized interest | (602 | ) | (510 | ) | (759 | ) | (62 | ) | (110 | ) | ||||||||||
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Total income before provision for income taxes, plus fixed charges, less capitalized interest | 69,341 | 60,734 | 50,139 | 28,033 | 9,331 | |||||||||||||||
Fixed charges: | ||||||||||||||||||||
Interest expense (1) | 31,645 | 33,411 | 32,883 | 25,673 | 7,070 | |||||||||||||||
Capitalized interest | 602 | 510 | 759 | 62 | 110 | |||||||||||||||
Estimate of interest included in rental expense (2) | 17,968 | 16,684 | 15,622 | 10,066 | 4,996 | |||||||||||||||
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Total fixed charges | $ | 50,215 | $ | 50,605 | $ | 49,264 | 35,801 | 12,176 | ||||||||||||
Ratio of earnings to fixed charges (3) | 1.38x | 1.20x | 1.02x | 0.78x | 0.77x |
(1) | Interest expense includes interest in association with debt and amortization of debt issuance costs. |
(2) | Fixed charges include our estimate of interest included in rental payments (assumed to be one-third of rent expense under operating leases). |
(3) | Earnings for the 244 days ended January 30, 2011 and 120 days ended May 31, 2010 were insufficient to cover the fixed charges by $7,770 and $2,845, respectively. |