Exhibit 12
VOLUME SERVICES AMERICA, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (In thousands)
EXHIBIT 12
13 Week
Fiscal Year Ended period ended
1994 1995 1996 1997 1998 March 30, 1999
------ ------ ------ ------ ------ --------------
Income (loss) from continuing operations
before income taxes, extraordinary
item and cumulative effect of change
in accounting principle.................. $2,798 $(984) $(3,868) $(2,787) $(2,220) $(9,364)
Add Fixed Charges:
Interest Expense (excluding capitalized). 433 474 6,778 7,562 10,771 4,332
Amortization of loan costs............... -- 16 478 354 551 300
Interest factor in rents................. 193 262 297 352 338 188
------ ----- ------- ------- ------- -------
Total earnings as defined.................. $3,424 $(232) $ 3,685 $ 5,481 $ 9,440 $(4,544)
====== ===== ======= ======= ======= =======
Fixed Charges:
Interest Expense........................ $ 433 $ 474 $ 6,778 $ 7,562 $10,771 $ 4,332
Amortization of loan costs.............. -- 16 478 354 551 300
Interest factor in rents................ 193 262 297 352 338 188
------ ----- ------- ------- ------- -------
626 752 7,553 8,268 11,660 4,820
====== ===== ======= ======= ======= =======
Ratio of Earnings to Fixed Charges........ 5.5 -- -- -- -- --
====== ===== ======= ======= ======= =======
Deficiency in the coverage of fixed
charges................................. $ -- $(984) $(3,868) $(2,787) $(2,220) $(9,364)
====== ===== ======= ======= ======= =======
Pro forma
---------------------------------------
52 Week 13 Week
period ended period ended
December 29, March 30,
1998 1999
------ ------
Loss from continuing operations
before income taxes, extraordinary
item and cumulative effect of change
in accounting principle.................. $(15,500) $(10,600)
Add Fixed Charges:
Interest Expense (excluding capitalized). 22,200 5,200
Amortization of loan costs............... 1,400 300
Interest factor in rents................. 338 188
-------- --------
Total earnings as defined.................. $ 8,438 $ (4,912)
======== ========
Fixed Charges:
Interest Expense........................ $ 22,200 $ 5,200
Amortization of loan costs.............. 1,400 300
Interest factor in rents................ 338 188
-------- --------
$ 23,938 $ 5,688
======== ========
Ratio of Earnings to Fixed Charges........ -- --
======== ========
Deficiency in the coverage of fixed
charges................................. $(15,500) $(10,600)
======== ========