Exhibit 12.1
Carrols Corporation
Schedule of Computation of
Ratio of Earnings to Fixed Charges
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Year Ended December 31,
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1993 1994 1995 1996 1997
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(Dollars in Thousands)
Income (loss) before income taxes
and extraordinary loss $ (4,808) $ (1,666) $ 5,100 $ 6,283 $ 2,813
Fixed Charges:
Interest on Indebtedness 12,505 14,456 14,500 14,209 14,598
Interest Component of Operating Rent 2,873 3,379 3,699 3,869 5,096
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Income (loss) before income taxes and
extraordinary loss and fixed charges 10,570 16,169 23,299 24,351 22,507
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Total Fixed Charges 15,378 17,835 18,199 18,068 19,694
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Ratio of Earnings to Fixed Charges 0.7 X 0.9 X 1.3 X 1.3 X 1.1 X
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Deficiency of earnings to fixed charges (4,808) (1,666)
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Nine Months Ended
September 30,
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1997 1998
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Income (loss) before income taxes
and extraordinary loss $ 902 $ 8,566
Fixed Charges:
Interest on Indebtedness 11,059 14,716
Interest Component of Operating Rent 4,281 6,284
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Income (loss) before income taxes and
extraordinary loss and fixed charges 16,242 29,566
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Total Fixed Charges 15,340 21,000
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Ratio of Earnings to Fixed Charges 1.1 X 1.4 X
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